Opponents Unconvinced Of Amazon HQ2 Benefit

By Stan Bush

DENVER (CBS4) – Opponents of Denver’s attempt to secure Amazon’s second domestic headquarters are wringing their hands over a survey that suggests renting will become even harder.

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Apartment List, a group that monitors renting trends, believes rent would jump nearly 9% if Amazon moves to Denver.

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Amazon has said their new headquarters would likely bring more than 50,000 new jobs to whichever city they move to.

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“If this was 2010 there would be no question that we’d want this,” says Steve Ferris, a real estate analyst, “If we were Detroit we’d do anything to get this.”

Denver’s average rent for a one-bedroom apartment, about $1,300 a month, is already higher than the national average which is closer to $1,000.

RELATED: Amazon Hiring Aurora Fulfillment Center Jobs

Rent is already expected to increase in 2018 regardless of Amazon’s decision.

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Ferris says the concerns about rent only take in a short view of the area’s business potential.

“There are about 27,00 units being under construction and another 20,000 planned,” says Ferris. “I don’t know if that’s being considered.”

RELATED: Site Of Amazon’s HQ2 Has Much To Learn From Seattle

Denver finalized their bid for Amazon earlier this week.

Stan Bush is a general assignment reporter at CBS4. His stories can be seen on CBS4 News at 10. Read his bio and follow him on Twitter @StanBushTV.

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