(EL PASO COUNTY, Colo.) — As we look back on 2023, the Pikes Peak Regional Building Department (PPRBD) is reflecting on a busy, yet successful year.
“We had a lot of single family homes coming in, we had a lot of commercial and of course a lot of multifamily projects as well,” said Greg Dingrando, public information officer for PPRBD.
The commercial sector led the way with 419 new plans submitted, which is a seven percent increase over 2022, and the most since 2007.
“We had a lot of large commercial projects, a lot of high dollar projects here in the area, and those are kind of complicated projects as well. So, those large, complicated projects are certainly going to keep our inspection team extra busy,” Dingrando said.
Just to name a few, these projects included the Sunset Amphitheater, Eagle Rock Liquor Distribution in Monument, the Colorado Springs Airport renovation and Entegris, a $115-Million project on the west side of Colorado Springs.
“It’s really bringing kind of a new sector of jobs, some of the projects that are coming here,” Dingrando said. “So, that’s really exciting whenever you think about new opportunities for jobs coming to the Pikes Peak region.”
Another noteworthy project is The Hunter Apartments going up in downtown set to be completed by 2025.
“We’re always excited to see more housing become available on the market to help both home the workforce, but also provide a sense of place to our community,” said Jessie Kimber, economic development officer for the City of Colorado Springs.
Speaking of housing, there was a slowdown in single-family homes being built, with the the PPRBD issuing only 2,785 permits for new homes, which is the fewest since 2014.
But, the number of apartment projects reaching completion skyrocketed. The Plaza at Pikes Peak was one of the largest apartment projects to see completion with 215 units. This means there are now more than 3,000 units open for renters.
“When you start seeing some of these large apartment projects coming in, that really is exciting just because we know that the need is so, so greatly needed,” Dingrando said.
For the rest of 2024, PPRBD said they are looking forward to a bright, yet busy year.
“If you talk to some of our inspectors, they might roll their eyes a bit,” Dingrando said with a laugh. “But, it is exciting when you start seeing some of these really exciting projects coming in, new developments coming to the area.”
PPRBD said the estimated valuation for all construction in the Pikes Peak region in 2023 was around $3.5 billion.
