INTRODUCTION
Dear AAMD Members ,
There ’ s a reason we put fireworks on the cover of this year ’ s Membership Directory .
As 2022 begins , it ’ s hard not to reflect on what a challenging year 2021 was and how the multifamily industry continued to forge through difficult times . Between pandemic impact and economic factors , including all the eviction moratoriums and government orders- we were dealt a tricky hand in 2021 . But incredibly strong demand for apartments continues to roll on , and we have a lot to be thankful for and to celebrate !!
Mark T . Williams
Executive Vice President
As we close 2021 , the record-level metrics continue to shock even most experts . Here are just a few …
• Average rent in the Metro area is $ 1,726 , which is now over $ 2 per square foot
• Over 376,000 units in inventory , calculates to annual rent income of over $ 7.7 billion !
• For the first time in 27 years , vacancies are below 4 % for 2 quarters in a row ( currently 3.8 %)
• There are a record 38,000 new apartments under construction
• With a record 52,000 potential apartments under consideration
• Over 90,000 apartment units in some stage of construction or development process
• The average sale price for an apartment unit in Metro Denver for 2021 was over $ 321,000 , making the overall value of apartment stock in Metro Denver over $ 120 billion !
2022 MEMBERSHIP DIRECTORY & RESOURCE GUIDE
From our estimations , the industry provides housing to now more than a million Coloradoans ! These are significant milestones and facts that our membership should be extremely proud of . Take a moment and think about how hard you work- and what it means to so many people in Colorado ! Take some time to relish this moment . “ Spike the ball in the endzone ” and tell your team what a great job they have done !
AAMD appreciates how the members are true ambassadors of the Association and have spread the word on our value to the industry . As the 6th largest apartment association in the nation , AAMD continues to strive to be the best organization providing critical education , professional growth , legislative information , networking opportunities and all that AAMD has to offer .
When AAMD and CAA represent the multifamily industry across government jurisdictions and at the State Capital , it is our members message and our numbers which help lawmakers hear how significant our voice is ! They understand how professional our industry is , and how broad scoped the services are for the residents of Colorado . Our great membership and unit count drive our legislative advocacy , which in the past ten years have proven to be very important , estimated to have saved the industry over $ 1.5 billion .
Each year we relish in selecting an iconic image for our Directory cover . Whether it is the State Capitol , an image of our mountains , or a classic shot of our beautiful Denver skyline- it is a fun task to design the cover . This year ’ s cover includes celebratory fireworks over our great city skyline , where once again we are reminded why Denver is such a wonderful place to live , work and celebrate life !
We hope this edition of the Membership Directory will be a reliable and valuable resource to help your business grow in 2022 !
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