Dear AAMD Members ,
On the cover of this year ’ s Membership Directory is an iconic photo of Red Rocks Amphitheater , which is just one reason why we love to live in Denver and why others want to move to Colorado . As Denver ’ s appeal continues to be attractive to housing seekers , and as we close 2022 , the several industry metrics continue to illustrate what a broad scoped and powerful industry we have … As we close 2022 , the several industry metrics continue to illustrate what a broad scoped and powerful industry we have …
Mark T . Williams Executive Vice President
• Average Rent in the Metro area is $ 1,885 , which is now $ 2.22 per square foot
• Over 390,000 units in inventory , calculates to annual rent income of over $ 8.8 Billion !
• There are a record 42,000 new apartments under construction
• Another record 77,000 potential apartments under consideration
• Nearly 120,000 apartment units in some stage of construction or development process
• The average sale price for an apartment unit in Metro Denver for 2022 was over $ 332,000 , making the overall value of apartment stock in Metro Denver nearly $ 130 Billion !
Our industry provides housing to more than a MILLION Coloradoans !
As 2023 begins it ’ s not difficult to identify our greatest challenge for AAMD and CAA . Once again it will be protecting your business from government intervention and legislation from our local and state law makers .
Housing and affordable housing are priorities legislators include at the top of their list- but it is an unfortunate reality and all too frequent- that their efforts have the opposite effect of their intentions . Housing providers will once again be hammered with new regulation , ordinances , and state statutes in 2023 , that will increase your costs and increase the cost of housing . The NMHC reports 40.6 % of multifamily housing development costs were due to government-imposed regulations . At AAMD and CAA we will work tirelessly to protect your business and this industry .
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 what AAMD has to offer .
In the Fall of 2023 AAMD will bring back our Tributes Event for a celebration of the industry ’ s best and brightest ! Mark your calendars for Friday , September 15 , 2023 and visit our Tributes website www . tributes2023 . com for all the latest info on award entries , sponsorship info and event details !
We hope the Directory continues to be a reliable and valued resource to help your business grow in 2023 !