Hawks, a top apartment broker with Grubb & Ellis, predicted the drop would continue.
Days later, the HBA released statistics for the first three months, which showed there were only 1,313 building permits issued in the metro area compared with 2,565 in the first quarter of 2000, a 49% drop.
For example, there were 909 multifamily units issued in fast-growing Douglas County in the first three months of last year, compared with no permits through March this year. In Thornton, north of Denver, there were 384 permits issued last year, while none were issued this year.
And in Aurora, the second-largest city along the Front Range after Denver, there were 478 permits issued in 2000, compared with 24 permits this year.
The survey tracks more than 30 cities and counties from Boulder to Elbert counties in the Denver area.
Hawks says he expects this trend of about half as many permits being issued in 2001 from 2000 to continue throughout the year.
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