There doesn’t appear to be an end in sight to the building boom. The Denver area has, so far, seen a huge jump in construction compared to last year -- and last year was a record.
So far this year construction is up 50 percent, compared to the start of 2015, according to a report from Dodge Data & Analytics. That’s an additional $800 million in construction activity.
But Jessica Ostermick, director of research at real estate firm CBRE, says it’s not shocking when you look at Denver’s population and job’s numbers.
"Having that sustained high level of in migration and job growth, I think is really good for the amount of cranes that we see in the air," Ostermick said.
New, high-dollar office projects are helping to drive the numbers higher. But Ostermick sees 2016 as probably the peak year for construction in Denver, with gradual declines in the coming years.
