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Archive | July, 2011

Rents hit record high

27. July 2011

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Rents reached an all-time high in Colorado Springs in the second quarter of this year. The Colorado Division of Housing released a report today that showed a 5.5 percent year-over-year increase in the average rents. Apartment vacancy rates have been falling in the last two years and bottomed out in the first quarter of this […]

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Investor buys hotel for $551

26. July 2011

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A Woodland Park investor nabbed an airport hotel for $551 at the El Paso County Trustee’s foreclosure auction last week. Spencer Hovanetz, who runs HP Holdings, won the bid for the America’s Best Value Inn & Suites at 1780 Aeroplaza Drive. The hotel, built in 1997, is a functioning inn still taking reservations and accepting […]

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Government considers renting out foreclosed homes

25. July 2011

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The Obama administration proposed a plan last week to pull foreclosed homes belonging to Fannie Mae and Freddie Mac off the real estate market and rent them out, according to a report in the Wall Street Journal. The idea behind the plan would be to clear out the glut of unsold properties on the market […]

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South Academy and I-25 could see retail development

19. July 2011

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A parcel of land near the intersection of Interstate 25 and South Academy Boulevard may be destined for commercial development in an area of town many say is underserved by retail and commercial. THF Realty currently has a contract to purchase a parcel of land there from Oakwood Homes. THF, based in Denver, is known […]

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Report: CS housing market hasn’t settled yet

18. July 2011

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The Colorado Springs housing market hasn’t settled into a predictable pattern yet, according to data and analysis in a Colorado Division of Housing report. Home sales closings in Colorado Springs fell 12.1 percent from May, 2010 to May, 2011, according to recently released figures from the Colorado Association of Realtors. Colorado Springs did, however, see […]

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CDOT may buy foreclosed motel

14. July 2011

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The Colorado Department of Transportation may move forward with borrowing money from currently funded transportation projects to buy a vacant motel at the corner of 8th Street and Highway 24. The Pikes Peak Area Council of Governments Board of Directors discussed a proposal Wednesday to reallocate a portion of Colorado Department of Transportation money budgeted […]

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HUD grants $12 million to improve CO’s affordable housing

13. July 2011

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Colorado received $12 million from the U.S. Department of Housing and Urban Development to expand and upgrade affordable housing options throughout the state. The $12 million Colorado received is part of a $1.9 billion federal grant that was distributed to HUD offices around the country. The funds will allow these agencies to make major large-scale […]

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Downtown building sells for $1.1 million

13. July 2011

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A children’s dental and vision company bought a large piece of real estate downtown last week. Hero Management, which owns Adventure Children’s Dental & Vision, purchased a 13,400-square-foot building at 15 N. Nevada, said Randy Dowis, the broker at NAI Highland Commercial Group who handled the deal. The building was originally listed at $1.49 million […]

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Hoff & Leigh report: Industrial vacancies fall

12. July 2011

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Industrial space was the only commercial real estate sector that saw growing occupancy numbers in the second quarter of 2011, according to a Hoff & Leigh Commercial Real Estate report released today. The total vacancy in all regions of Colorado Springs for industrial space was 11.67 percent, according to the report. Almost 40 percent of […]

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Report: Housing expenses tough for seniors

11. July 2011

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The average home renter over the age of 65 in Colorado Springs needs to bring in $20,148 a year in order to meet all of his or her expenses. That figure rises to $30,276 for couples, according to the Elder Economic Security Standard Index, released last week. The index uses an average rental price of […]

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