Over the past fifteen years, Colorado condominium construction has experienced a severe decline. Condominium development between 2018 and 2022, across 11 front range counties which collectively house over 80% of Colorado’s population, was 76% lower than between 2002 and 2008. This amounted to 14 new apartments for every 1 new condo in recent years, compared to 1 new condo for every 1.25 apartments in the 6 years prior to 2009. Concurrently, Colorado cities have struggled to facilitate a regulatory environment that correlates into an adequate supply of all housing types to meet population growth. From 2008 to 2019, Colorado grew by an annual average of 77,731 new residents but built only 25,682 new homes per year. The overall stagnation of housing development which began at the onset of the Great Recession has manifested into a Colorado housing market that is affordable to only the highest of income earners.
On this episode of Common Sense Digest, Host and Chairman Earl Wright welcomes Peter LiFari, CSI’s 2023 Housing Fellow and is the Executive Director of Maiker Housing Partners, Ted Leighty, CEO of the Colorado Association of Home Builders, and Bruce Likoff, Of Counsel at Bryan Cave Leighton Paisner, to discuss the issue, its many causes, possible solutions, and a path forward. You can read CSI’s full report here.
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Peter LiFari is CSI’s 2023 Housing Fellow and is the Executive Director of Maiker Housing Partners, a socially conscious public housing authority based in Adams County, Colorado. In his role as Executive Director, LiFari leads a passionate team committed to ending the cycle of generational poverty by providing individuals and families with access to affordable housing, support programs and by engaging in community development. LiFari is a compassionate visionary whose leadership style is grounded in treating individuals with empathy, warmth and grace.
Since 2017 Ted Leighty has been the CEO of the Colorado Association of Home Builders and CEO of the HBA of Metro Denver since 2020. Ted has extensive experience in Colorado real estate, having served as Vice President of Government Affairs for the Colorado Association of Realtors. He has also chaired the Colorado Real Estate Alliance and the Colorado Competitive Council.
Bruce L. Likoff is Of Counsel at Bryan Cave Leighton Paisner and his practice emphasis is commercial real estate and land use. Mr. Likoff has experience representing real estate developers and investors. His experience includes many transactions relating to all phases of development, including acquisition, land use approvals, financing, construction, leasing and sales. Relevant projects represent all major property categories, including office, industrial, retail, hotel and residential. Mr. Likoff also has particular experience in complicated ground lease and leasehold financing transactions, as well as community structure for master planned communities and mixed use projects.