Denver's land sales volume peaked in 1999 when developers andbuilders shelled out nearly $300 million. "Based on the slumpingeconomy, it is not surprising that land acquisitions slowed in 2001as lenders, developers and corporations alike scaled back theirplans for future growth," concludes the freshly released report."In addition, it should also come as no surprise that for the mostpart land activity is expected to remain light through 2002."

Acquiring land is one of the first steps toward fostering andpromoting growth, the company points out. Currently, there's asurplus of everything from single-family homes to class A officeproperties in the metro area, which "will have a profound impact onthe land market over the next few years," researchers say.

Colorado Springs should end 2001 with a shade under $150 millionin land sales, whereas the two prior years ended slightly north ofthat amount. The record was set in 1996 when the dollar volumetopped $200 million. The Banning Lewis Ranch, which was the largestsingle property sold by the now defunct Resolution Trust Corp.,accounted for more than a third of the total land sales volume inthe Springs this year.