COLORADO SPRINGS, Colo. (KOAA) — Colorado Springs has experienced a dramatic slowdown in apartment construction permits, with zero permits issued in July and August 2025 after hundreds were approved earlier in the year. So far, 28 permits have been approved in September.

The city, known for continuous growth, saw a significant drop in apartment permits over recent years.

In 2022, approximately 5,000 permits were issued for apartment complexes. That number dropped to roughly 2,500 in 2023 and dropped again to 838 in 2024.

So far in 2025, 892 permits have been issued, already outpacing 2024 by 54 permits despite the summer lull.

"Interest rates do remain high, so it's not the best climate right now to develop, however, interest rates have been high for a while and we were seeing signific

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