Northern Colorado New Briefs
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Seasonally high occupancy rates
Recently released data from the Colorado Hotel & Lodging Association shows September occupancy rates at 76.3%, up significantly from last September’s rate of 68.9%. Estes Park came in with the highest occupancy rate of 87.8% and an average daily rate of $216.52. Greeley followed next with an occupancy rate of 84.8% and an average daily rate of $102.55. Click here to read the complete press release.
Largest Habitat for Humanity breaks ground
Hope Springs, an almost 500-unit development located on 43-acres in Weld County, has broken ground. This is the largest Habitat for Humanity project in Colorado and is being co-developed by Greeley-Weld Habitat for Humanity and Richmark Cos. All homes are being built to net-zero-ready standards and amenities will include an on-site childcare center, walking and biking trails, playgrounds, a frisbee park and mini soccer field. Click here to learn more about this collaborative community project.
IRES 3rd Quarter Report
Information and Real Estate Services (IRES) recently released their Q3 2022 MarketWatch Report and in Northern Colorado home prices were up across the board. In Larimer County, the median sales price was $590,930 for Q3-2022, an increase of 11.5% year-over-year. The number of closed sales was down 24.6% dropping to 1,693. In Weld County, the median sales price was $495,000 for Q3-2022, a 8.9% year-over-year increase. The number of closed sales was down 33.1%, coming in at 1,653. In Boulder County, the median sales price was $807,000 for Q3-2022, a 3.5% year-over-year increase. The number of closed sales was down 27.8%, coming in at 1,019.
Funding announced for key segment of I-25 Expansion
The Colorado Transportation Commission (CTC) recently approved funds to expand a bottleneck area of I-25 north of Denver, identified as Segment 5 in the North I-25 expansion plan. Up until now, Segment 5 was the only remaining section of the roadway without funding or construction plans. Thanks to advocacy from Northern Front Range leaders, the full expansion of I-25 to three lanes from Highway 14 in Fort Collins to Highway 66 in Longmont will now be realized. Learn more at fixnorthi25.com.
Weld & Larimer County join forces on workforce-development pact
Weld County and Larimer County Commissioners recently approved the Northern Colorado Workforce Development Partnership memorandum of understanding (MOU). The MOU outlines strategic regional workforce initiatives between two key departments in each county, the Employment Services of Weld County and the Larimer County Economic and Workforce Development Department. Initiatives include: alignment of workforce-development plans; data collection; industry exposure and career exploration; work-based learning initiatives; addressing systemic barriers to employment; talent attraction, retention and development; targeted messaging and outreach efforts; and streamlined access to business services and resources. Click here to learn more.
Loveland greenlights renewed economic strategic plans
The Loveland City Council recently unanimously approved strategic plans that will guide the city’s economic-development strategy moving forward. More specifically, their vote approved the 2023-27 Economic Development Strategic Plan for the city as well as the 2022-27 Visit Loveland Strategic Plan. The five-year strategic plan centers on “re-building the backbone of our economy.” The plan revisits the core principles of economic development: Tourism, Retention, Attraction, Creation, Expansion and Redevelopment of Businesses (TRACER).
Colorado Cities named “Best for Working Remotely”
Ownerly recently released their list of America’s Best Cities for Remote Workers: The Great Outdoors Edition, in which they analyzed more than 1,000 U.S. cities to determine the best Zoom Towns for people who love the outdoors. Colorado cities ranking in the Top 25 Overall include Fort Collins #7 and Thornton #10. In the category of Top 15 Large Cities, Colorado Springs ranked #3. For Top 15 Medium Cities, Fort Collins ranked #1 and Thornton #3. In related news, SysAid Technologies, an IT-services firm, recently released their list of best cities for remote workers based off of the percentage of workforce that works from home. Boulder ranked #4 with 16.1% working remotely. Colorado had the second-highest statewide remote working rate coming in at 10.8%.
NoCo Economic Tracker positive summer report
The recently released July 2022 Recovery Tracker report shows key economic indicators for Northern Colorado continuing to move in the right direction. Unemployment has steadily declined aside from periodic, seasonal upticks. The labor force, which consists of the employed (people with jobs) and the unemployed (people who are jobless, looking for a job, and available for work), in June 2022 was up 2.1% compared to 2019. Explore the regional Recovery Tracker at: nocorecovers.com/tracker/.
Dolly’s Imagination Library Opens
The United Way of Larimer County has partnered with Dolly Parton’s Imagination Library as well as Imagination Library Colorado to deliver books to children from age birth to five. The goal of the Imagination Library program is to foster a love for books and increase childhood literacy rates. Families can enroll children at www.uwaylc.org/ImaginationLibrary or at one of the local partner libraries: Berthoud Community Library, Estes Valley Library, Loveland Public Library, Poudre River Public Library District, Red Feather Lakes Community Library and Wellington Public Library.