Apartment construction in Colorado Springs slowed to lowest in a decade in 2024

By WAYNE HEILMAN  | The Gazette

The red-hot pace of Colorado Springs-area apartment construction turned ice cold last year.

From 2019 to 2023, multifamily developers pulled permits to build just over 14,000 apartments in the Springs and surrounding El Paso County — one of the hottest stretches of local apartment construction in recent memory that averaged a little more than 2,800 units a year, according to recent and historical Pikes Peak Regional Building Department figures.

Developers, however, did an about-face in 2024 and took out permits to build just 838 apartments — a nearly two-thirds drop when compared with the previous year and the fewest since 2015.

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