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New project applications received by the Town’s Development Services Department were up in 2023, indicating there’s continued interest to develop in Castle Rock. Conversely, lower-than-usual new home building permits reflect current economic influences and a slowdown in new single-family home construction.
Development Services received 219 development and other project applications in 2023. This is a significant increase compared to the five-year average of 149. Additionally, there were 5,180 total building permit applications received, surpassing the 5-year average of 4,164, many of which were re-roof permits caused by previous summer storms.
The building permit year-end total for construction of new single-family homes was 401 and multifamily units was 283, representing about half the typical average year. The combined total is 685 new units in Town, which is significantly lower than the 5-year average of 1,294 units. This shift is due to a variety of factors, including changes in the housing market and higher interest rates than in previous years.
The total commercial space permitted totaled 135K square feet, which is 17% higher than the five-year average.
To learn more about the development activity in Town, visit CRgov.com/DevelopmentActivity.
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