"It's pretty striking," Mike Rinner of the Genesis Group tellsGlobeSt.com. Rinner notes that almost all the permit activity inJune was in two counties--Denver and Douglas.

There were 333 permits pulled in Denver and 382 pulled inDouglas. Appraiser Cary Bruteig, principal of Apartment Appraisers& Consultants, says the Douglas County permits likely reflectthe Alexan Lincoln Station being built by Trammell Crow Residentialnext to a light rail station under construction at the northwestcorner of Interstate 25 and Lincoln Avenue.

"It helps that they are doing lofts on the light rail line, butit does not help them overcome the fact that the market is verysoft right now," Bruteig tells GlobeSt.com. "However, it does takethem a couple of years to build it, so by the time they are done,hopefully the market will have turned around and they will get therents they need."