With Colorado Springs rents up by nearly 10% over last year, a well-known residential development company is announcing plans to build a new apartment complex.
The Colorado Springs-based Goodwin Knight says it wants to build just over 200 new apartment units on the growing east side of the city on a currently vacant 14-acre site.
That site is located just to the northeast of E. Fountain Boulevard and Aeroplaza Drive in a neighborhood of some suburban housing and both motels and hotels.
The envisioned complex will be comprised of four multi-story structures.
Goodwin Knight is currently in the process of completing another large complex called Patriot Park, which is going up on the south side of Colorado Springs and includes 258 units.
Typically, the company’s complexes include such amenities as club houses, swimming pools, dog parks, and green space.
The latest Goodwin Knight project is in response to a growing demand for new apartment units throughout metro Colorado Springs and central Colorado that has continued unabated even during this year’s pandemic economy.
More than one thousand new units are currently under construction on just the southeast side of the city alone, according to the Daily Camera newspaper.
Average monthly rates, meanwhile, have been steadily climbing in the area, and are now just south of $1,300 for a one-bedroom unit.
By Garry Boulard
