Multifamily building boom in Denver
DENVER — This year in Denver, more than three thousand building permits have been issued to developers putting up apartment buildings, which in turn means there are thousands of construction jobs which need to be filled by skilled workers.
“Construction jobs didn’t bounce back after the initial drop off following the financial crisis, we had just seen a long steady decline that happened from 2007 really until very recently when we started to see construction jobs tick back up,” said state housing expert, Ryan McMaken. “But if job growth were really good, we’d probably be seeing far more demand that we’re seeing now.”
Still, developers say the news about the building boom is a huge success story for the state and the city, and hopefully we will see it like this for the next few years.
Cory Palmeiro is a partner in MPC Construction his company is just set to rent the 301 units in the Denargo Market Apartments on Brighton Boulevard.
“There is a huge shortage in skilled workers because of all the work going on in the Platte Valley and RINO neighborhoods,” said Palmeiro. “We have about 85 million in new projects in the pipe line and we will probably employ more than 1000 workers over the next couple of years, but ours are not the only projects on the horizion.”
At that project more than 200 had jobs over the past 20 months, today Palmeiro was on site handing out end of the year bonus checks to workers, for jobs well done. Didn’t know they still had bonus checks did you?
The word is that with more people moving to Colorado and more young people leaving home, apartments and single family homes are in short supply in metro Denver. That is why there is a ‘boom’ of sorts underway in metro.
If you have skill trades those in the know suggest getting in touch with sub-contractors on the many projects underway, while the good weather holds out.