Ron Throupe is an assistant professor at the Franklin L. Burns School of Real Estate and Construction Management at the Daniels College of Business.
On the same day that the Urban Land Conservancy announced its purchase of 9.4 acres in northeast Denver to develop affordable apartments, two high-end complexes also entered the multifamily pipeline in metro Denver.
Behringer Harvard announced Monday that construction has begun on a luxury apartment community at 21st and Lawrence streets in the Arapahoe Square/Ballpark area.
And HFF, a provider of commercial real estate services, said it has arranged joint-venture equity for the development of a 341-unit, Class A complex in Glendale.
Ron Throupe, assistant professor at the University of Denver’s Burns School of Real Estate and Construction Management, however, took a more cautious view.
“The affordable units probably won’t have an effect,” he said, “but I think the upscale units are going to start pushing the envelope.”
He noted that area developers are adding about 6,000 to 8,000 units a year, which will eventually push the vacancy rate up.