REMI Partnership Releases “Building Gated Cities”
DENVER, CO – Today, the REMI Partnership, a consortium comprised of Common Sense Policy Roundtable, Colorado Concern, Colorado Association of REALTORS®, and Denver South Economic Development Partnership, released “Building Gated Cities,” a new study focused on the economic and fiscal impacts of “no growth” policies.
“Colorado is experiencing nearly-unprecedented economic growth, but that growth does bring real challenges. At the top of the list of challenges are the spiraling housing costs making it exceptionally difficult for many Coloradans to buy a home,” said Colorado Concern President and CEO Mike Kopp. “There is no silver bullet to solve this challenge but our research shows that Boulder, Golden and San Francisco-style anti-growth laws and policies will drive the cost of housing even higher, putting the American Dream of homeownership out of reach for more and more Coloradans.”
“Building Gated Cities” takes an in-depth look at the proposed 1 percent growth initiative proposed in the City of Lakewood and the potential impacts of the measure.
“Our in depth examination of the proposed limited growth initiative in Lakewood, coupled with the insights and expertise of our members reveals that implementing such a plan would actually produce a significantly negative impact on the city and its residents,” said Tyrone Adams, CEO of the Colorado Association of REALTORS®. “The potential negative outcomes would include a reduced number of available homes to potential residents, increased housing and rental prices and slower economic growth. In addition, there would be a ripple effect on businesses including higher rental rates for properties and increased obstacles to progress.”
Major findings of the study include:
- The pending 1 percent growth initiative proposed in the City of Lakewood would have a significant impact on the city’s future and jeopardize the issues residents care about the most.
- As indicated in recent surveys, the items that citizens of Lakewood deem most important affordable homes, access to a range of amenities, and less traffic congestion are directly at odds with the proposed initiative.
- Estimates suggest the measure could reduce the number of households in Lakewood by 10 percent to 18 percent over the next 10 years. This reduction will add additional pressure to the escalating cost of living, contribute to widening in- come inequality, increase congestion and urban sprawl, and reduce the local consumer base that draws in desirable retail options.
- The 1 percent initiative will also leave Lakewood’s major public infrastructure investment, the West Rail Line, challenged to realize its desired potential by preventing denser growth in the areas surrounding rail stops.
“The future of the Colorado economy and the economic well-being of our citizens depends on having a market that can respond to demand,” Kopp said. “When proposed legislation restricts the ability to grow, voters and policymakers should be aware of the dire economic consequences.”
About the REMI Partnership: Founded in 2013, the partnership is comprised of Common Sense Policy Roundtable, Colorado Concern, The Colorado Association of REALTORS® and Denver South Economic Development Partnership partnered to develop independent, fact-based analysis that quantifies the broader economic impacts associated with policy changes. The partnership owns the REMI Tax-PI dynamic model, which was built for Colorado and calibrated with Colorado revenues, expenditures, employment and population. The partnership has provided Colorado lawmakers, policy makers, business leaders, and citizens with greater insight into the economic impact of public policy decisions that face the state and surrounding regions.