[bouldercouncilhotline] Hotline: Follow-up on Eastpointe demand for unit types

[cmosupport at bouldercolorado.gov]

Sender: Firnhaber, Kurt

Dear Council,

The Eastpointe redevelopment project was discussed  at the city council meeting on the 10th of November.  In the presentation given by the applicant they showed an increased number of efficiency, 1 bedroom and 3 bedroom units.  However, they also indicated a lower number of 2 bedroom units. In that meeting I was asked to give further information on the need for 2 bedroom units in the community and if their reduction in 2 bedroom units was aligned with the demand in the community.

The Housing division reached out to ten different apartment complexes that are similar to Eastpointe as far as a range of unit types.  We also looked at complexes that are not student focused.  While they may have students as renters they are not designed or marketed as student housing, similar to Eastpointe.  Our survey ranked the demand from 1 to 5, with 1 being low demand and 5 being high demand.  The survey had the following results:

UNIT TYPE

Average Demand

Efficiency

5.0

1 bedroom

4.4

2 bedroom

3.3

3 bedroom

3.7


This survey indicated that there is still strong demand for all unit types and an average occupancy rate of 93%.  This survey also indicates that Easpointe, in reducing the number of 2 bedroom units and increasing the number of other unit sizes is reflective of the demand of the community.

I hope this information is helpful and answers the question posed by city council.

Thanks,

Kurt

[https://work.bouldercolorado.gov/links/fetch/900]

Kurt Firnhaber
Deputy Director of Housing
Department of Planning, Housing & Sustainability
Office: 303-441-4424
Cell:    303-917-0914
The Atrium Building, 1300 Canyon
Boulder, CO 80302
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