Everything's Looking Up - Terry Drahota's Insights.
By Terry Drahota
I like what I'm reading and hearing about consumer confidence, companies adding jobs and the overall optimism of small business owners. Our estimating department has been busy preparing costs for both negotiated and hard bid projects, though the competition remains stiff. I believe we'll continue to see a strong apartment market in the Denver Metro area, especially those projects financed by REITs, as bank financing remains difficult to come by. If office vacancies continue to decline, we should see an uptick in commercial construction, as well. Although the development landscape continues to be relatively flat (down in some sectors, up in others), we are hopeful that lending for private developers loosens up, fees continue to increase for jobs and the economy continues to trend upward. For more info, check out the articles below related to the local economic forecast and the construction market in Colorado.