Lance

Ed Sealover of the Denver Business Journal recently reported that Colorado legislators say they won’t have to continue cutting services or raising fees to balance the state budget for the next year, and bills proposing further revenue increases from businesses could be tabled after receiving a favorable economic forecast.

According to the quarterly economic forecast by the non-partisan Legislative Council, sales and income tax revenues have kicked up to the point where Colorado could finish with $148 million more in revenue than expenditures this fiscal year and $262 million more next year, as long as it continues with previously planned budget cuts.

On the commercial real estate front, the Denver Business Journal reported that a Kentucky-based developer is moving ahead with plans for an $80 million office building and hotel for a site on East Colfax Avenue near the Anschutz Medical Campus in Aurora.

Corporex Cos. Inc. of Covington, Kentucky, has announced it plans to break ground soon on a 153-room Springhill Suites by Marriott and a 170,000-square-foot six-story office building with parking structure.  A second office building is planned for a neighboring parcel of land.

This is all good news for metro Denver and Colorado as additional indicators bode well for the ongoing economic recovery.  Kentwood Real Estate also recently reported significantly increased sales volume and transactions for the first quarter of 2010 compared to the same period last year.  For more information, visit www.DenverRealEstate.com and click on “press releases” under the “About Us” button