Apartment vacancies expected to balloon

Extensive building and shifting demographics have combined to boost apartment vacancies in Northern Colorado, with vacancy rates pushing the double-digit barrier.Real estate experts predict double-digit vacancies in Fort Collins by late summer, and vacancy rates have risen from a low of about 2 percent to almost 11 percent in Greeley, said Two Rivers Investment owner Don Eliott.
“It’s been slow now for about three months,” Eliott said. He attributed the slack market to the appearance of a lot of new four-plexes and small buildings, totaling perhaps 200 new units. Fewer students at the University of Northern Colorado, and a general…