THE
ECONOMIC
ROLLER
COASTER
SUMMER ECONOMIC CONFERENCE RECAP
Spirited panel discusses trends and
where we are in the economic cycle
by Luke Miller, Manager of Government Affairs
D
enver area multifamily professionals met, once again, for the
Apartment Association of Metro Denver’s bi-annual Economic
conference. This summer’s panel included Andy Clay with Alliance
Residential, Mark Windhager with RedPeak, David Zucker with
Zocalo Development and was moderated by Teo Nicolais of Nicolais LLC.
Other speakers included Alison Felix from the Federal Reserve Bank of
Kansas City, Krishna Rao with Zillow, and Jeff Hawks with ARA Newmark
and Ron Throupe, PhD. with the University of Denver.
Presenting Sponsors
This quarter’s Vacancy and Rent report showed average rent at $1,265, an
increase from last quarter by $61. Vacancy rate and average price per sq. foot
also showed signs of growth as well coming in at $1.50/ sq. foot. However,
discounts and concessions were also up, which may point to the beginnings of
an over-saturated market.
This vision was echoed by the conference’s panel. Mark Windhager with
RedPeak said “The party will be over within the next 18 months; concessions
are up.” Andy Clay with Alliance Residential agreed stating that there are too
many new apartments right now and the market is perhaps looking at a
bubble. Inevitably, the increase in discounts and concessions will offset metroarea rents.
www.aamdhq.org
AUGUST 2015 • TRENDS | 15