Can new properties in Colorado sustain with an imminent surge in employment development? – CBS Denver
DENVER (CBS4) – There has been another exciting development in the Colorado job market and more pressure on housing. This is often an overlooked aspect of growth in the state.
United Airlines’ announcement that it will hire 3,000 workers could attract more new people to a state already trying to resolve a housing crisis.
“I think our communities must all ask what new jobs are costing to ensure that when we offer tax incentives or other job creation perks, we offset it by providing housing options for socially equitable.” the residents we already have living there? ”said Kimball Crangle, Colorado Market President of Gorman & Company, a developer of affordable housing.
It’s hard not to like economic development and job growth, but there are many aspects.
“New jobs create more cost increases, which puts pressure on our lower-income households,” she said.
Recently, the Common Sense Institute estimated the state will need to add more than 54,000 homes each year over the next 5 years to meet demand.
“I think we could hit these numbers. I think that would require a concerted regional effort in the Greater (Denver) area, ”said Jennie Rodgers vice president and Denver market leader for the nonprofit Enterprise Community Partners. “We have to look at all the tools that are available to us, and that means creativity.”
You have considered using unused public land or parking spaces, higher height restrictions in through corridors and living near other apartments.
She listed: “Taking into account additional residential units, these are small units for mother-in-law and mother-in-law in the back of the courtyard. Tandem houses are two houses on one property. When we look at what batch sizes we need. “
It also allows builders to move forward faster, which could reduce costs and allow housing to be built at lower cost, enabling affordable housing. Other options could be converting commercial space into residential, which can be a difficult choice for communities as retailers could bring in more tax revenue. But there is a high vacancy rate due to the pandemic.
“Using locations like old shopping malls, like the City of Westminster is doing, to refurbish homes. We have to look at the land owned by our local governments. “
More and more people are coming to Colorado not only for jobs but also for their lifestyle. Tony Ricco takes a job as an engineer and moves from New Jersey. He is now looking for a property to buy.
“I’ve always been an outdoor guy. But as I got older, I went out into nature more and more, hiked and so on. “
He sees real estate being sold quickly.
“I search every day and maybe find one of these every day and maybe one or something comes off the list … I’ve noticed that the beautiful places that don’t cost $ 2 million are up for sale and they’re not on the market a lot.” long.”
This type of pressure means downward pressure on low income earners. Crangle believes housing should be an important infrastructure, as should roads and bridges and internet connections.
“Housing is a very critical infrastructure for the communities in which we all live. And if we create new jobs in front-range churches, do we need to consider who will take those jobs? Are these people who already live here and are we going to help them economically or are we going to import new residents who take on these jobs? ”She asked. “Both are absolutely good scenarios; We just need to make sure our communities are thinking about how to balance jobs and housing. “