Entrepreneur Frank Roessler founded real estate investment firm Ashcroft Capital in 2014. Widely recognized in the real estate industry, Frank Roessler was recently featured in the Denver Post discussing affordable housing projects by investors in Denver and Colorado Springs.
Denver and Colorado Springs have gained prominence among real estate investors as attractive destinations for developing properties. This appeal has been driven by market trends that grab the attention of investors – consistent rent growth, low vacancy rates, and growth in GDP, jobs, and population.
However, this increased interest in the region’s real estate markets has driven up rental costs. In Denver, the average monthly cost of renting an apartment has gone up by $700 since 2004. In Colorado Springs, average rent has increased by $400 over the same period. Such gains pose a threat to families with low incomes – they may be priced out of areas they have lived in for some time.
Thankfully, many investors are employing strategies to allow the development of both upmarket and affordable homes. This way the property market can grow without posing the risk of gentrification or displacement.