The number of building permits issued for new apartment units dropped by 63 percent in 2024 when compared to the previous year.
—
The number of building permits issued for new apartment units dropped by 63 percent in 2024 when compared to the previous year, causing a “dramatic cooling off” of the commercial construction sector in the Pikes Peak area.
That’s according to a recent report from the regional building department, which handles permits for El Paso County, Colorado Springs, Fountain, Manitou Springs, Green Mountain Falls, Monument, Palmer Lake, and the City of Woodland Park in Teller County.