New rules imposed by Denver and Colorado that require large buildings to reduce pollution will be too expensive and are at odds with federal regulations, groups representing owners and developers of office towers, hotels and apartment complexes allege in a lawsuit filed this week.
Metro Denver developers added more than 5,000 apartments in the first quarter, and renters soaked almost all of them up. Rents rose a small amount, but the vacancy rate is getting to the point where rent declines are likely.
Multiple associations that represent apartment complexes, hotels and office buildings sued Colorado and Denver over new requirements to reduce greenhouse gas emissions from their properties.
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