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Just after the pandemic, Colorado was plunged into a housing shortage crisis. But state legislators are investing millions into various local property development projects to improve housing accessibility and provide more communal, outdoor spaces for locals to enjoy. From new university buildings to family-friendly apartment blocks, Colorado has some big developments planned for 2022.
State Legislators Initiate Innovative Affordable Housing Plan
Since March 2020, housing costs in Colorado jumped to previously-unseen heights. Rent costs shot up by 13%, and house sales grew by more than 20% over the span of just one year. Many residents were forced to move into cramped spaces, further away from work, or simply move altogether to a cheaper state. However, in 2022, things are changing for the better.
State legislators are currently preparing for one of the biggest housing campaigns in history, allotting a record-breaking $400 million for upcoming affordable housing plans. The large investment (which comes from federal pandemic relief money) will be used to pay for the development of roughly 15,000 homes over the coming years. Spectators and involved project members are hoping that this campaign helps make a dent in the Colorado housing crisis and brings back a healthy economic surge to the community.
National Western University Campus Opens New State Buildings
In January 2022, one of three Colorado State University buildings were erected, with two more to follow this year. Once complete, this property trio will be used to host public events, create jobs, and serve the surrounding neighborhood for the next 30 years and beyond. With the first one complete, the remaining months of 2022 will be used to prepare for further development and begin landscaping the property.
The buildings are set to be developed on a 65-acre triangular piece of land, which is requiring some intensive efforts from local landscapers, whose business is booming thanks to the onset of property developments this year. Business owners interested in landscaping can Google “land clearing Colorado” to find more information.
New Social Center Populus To Be Erected In Denver
The world-renowned architecture firm Studio Gang will be developing an artistic 13 story leisure and lifestyle center in Civic Center Park, just next to 14th and Court Place. What makes this building special is that the architects have drawn inspiration from the Aspen tree, a chalk-colored tree native to Colorado with distinctive eye-shaped knots. The building will sport a similar shade of off-white, while organic, eye-shaped windows will scallop out of the external walls, giving this building a unique yet naturally familiar appeal.
By 2023, this eye-catching building will be used as a social hub featuring micro apartments, hotel rooms, and a lavish public rooftop area which will provide a uniquely high-up perspective on the city of Denver. Studio Gang also claims that the rooftop area will feature regional vegetation to attract bees, butterflies, birds, and other forms of local wildlife.
From social skyscrapers to affordable housing units, 2022/23 is shaping up to be a big year in property development for the state of Colorado.