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Development growth in the Town of Castle Rock continues to reflect economic trends, with a notable slowdown in new construction and overall permitting activity in 2024.
The Town received 159 new development and other applications in 2024, compared to 230 in 2023. This marks the third consecutive year of decline, with the five-year average standing at 237 applications.
Building permit applications also saw a slight decrease in 2024, with a total of 4,217 submitted. This figure is just below the five-year average of 4,535. Of these permits, 371 were for single-family homes, representing a 7% decline from 2023 and a significant drop of 56% from the five-year average. When considering both single-family and multifamily permits, a total of 415 dwelling units were permitted in 2024. This reflects a 39% decrease from 2023 and a 64% decline from the five-year average. Southeastern Castle Rock, including Crystal Valley and Montaine, was the only area in Town to see an increase in permitting activity.
Commercial permitting also experienced a decline, with only 40,000 square feet of space permitted in 2024. This represents a 66% decrease compared to the five-year average.
Looking ahead, it is anticipated that development growth will continue to occur at a slower pace in 2025. Find more about development in Castle Rock by visiting the Development Activity page at CRgov.com/DevelopmentActivity.
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