Thompson Thrift Participates in Panel Discussion about Colorado Multifamily Market during Colorado Real Estate Journal Conference
Labor availability, deal economics and supply/demand imbalance key points of discussion
DENVER, April 16, 2024 /PRNewswire/ -- Thompson Thrift, a full-service real estate company engaged in multifamily, mixed-use, retail, industrial and commercial projects across the country, announced today that Senior Vice President of Acquisitions Brian Southworth participated in a panel discussion about the state of the Colorado multifamily market at the 2024 CREJ Spring Multifamily Development & Investment Conference in Denver.
The sold-out conference brought together leading developers, lenders, brokers and investment firms focusing on the Colorado multifamily market. Southworth was a panelist on the developer panel which discussed numerous topics from:
- Deal economics
- Construction costs
- Labor availability
- Supply/demand metrics throughout Colorado
- Regulatory environment
Southworth's primary takeaways from the developer panel were:
- Deal economics will remain challenging in the short term as most Colorado markets work through a significant amount of new supply. With that, new supply in metro Denver is peaking and fundamentals should start to improve as new supply gets absorbed.
- Developers are starting to see construction costs level off or come down slightly in some instances.
- The sizeable affordability gap between renting and owning in Colorado has continued to grow and should provide continued tailwinds to multifamily demand.
- Regulatory changes adopted by the city and county of Denver have made it very challenging for developers and will throttle new supply and exacerbate housing affordability issues.
Thompson Thrift is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. The company has been active in Colorado for 11 years and has developed over 4,100 units in the state, which currently includes 10 communities between Fort Collins and Colorado Springs.
The company continues to expand its footprint with eight new residential developments targeted for 2024, including new markets in Georgia, Utah and Idaho. Since its founding nearly 40 years ago, Thompson Thrift has invested more than $5 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive commercial and multifamily communities.
About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver; Houston and Phoenix. Three business units drive Thompson Thrift's success?Thompson Thrift Residential which is focused on upscale Class A multifamily communities and luxury leased homes, Thompson Thrift Commercial which is focused on ground-up commercial development, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of development, construction, leasing, and management of quality commercial real estate projects across the country. The company earned national recognition as a winner of a 2024 Top Workplaces USA award, the latest accolade that reflects the company's ongoing commitment to excellence in the community and workplace. For more information, please visit www.thompsonthrift.com
Contact:
Jennifer Franklin
Spotlight Marketing Communications
949.427.1385
[email protected]
SOURCE Thompson Thrift
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