COLORADO SPRINGS, COLO. -- A new report by Pitney Bowes estimates the Springs will grow by 6.2 percent, that's an estimated 15,000 households over the next five years.
According to a University of Colorado at Colorado Springs economist, 60 percent of those new homes will be within city limits and boost our local construction business.
"These are very well paying jobs and they create other jobs it's a great employment multiplier and will help the economy move forward," Fred Crowley, of the UCCS Economic Forum said.
While the news is encouraging, Crowley believes the numbers are conservative and that we could be growing 25 percent faster than what the report indicates.
Doug Carter, an advisor for Sperry Van Ness said the apartment market is ready for the new need in housing.
"Right now there are 1,200 units being built in five apartment communities and 1,300 units planned so what we have under construction and planned are meeting the demands."
The majority of the new multi-family construction is taking place in the north end of town and include North Pointe and the Peaks at Woodmen.
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