Fees for commercial building permits and plan reviews in 20 Front Range cities and counties range from a high of $72,465 in Boulder County to a low of $31,275 in Greeley, according to a study released Wednesday by the Colorado State University Everitt Real Estate Center.
Estimated approval times of building plans range from three to five days in Greenwood Village to 10 weeks in Westminster.
The study, funded by the Colorado chapter of the Society of Industrial and Office Realtors, examined approval times and fees for a hypothetical $8.3 million, 51,000- square-foot office building and an $8.4 million, 100,000- square-foot industrial warehouse.
“Hopefully, we’ll see the process improve in places where the study points out improvements can be made,” said Peter Kast, a broker and partner with Realtec in Fort Collins. “Regions that do this well are going to get more business in the next few years.”
The length of time it takes to gain approval for a project is increasingly important in today’s economic environment, said Steve Laposa, director of the Everitt Real Estate Center.
Most projects occurring now are capital improvements to existing buildings and upgrades to spaces for new tenants. If cities don’t grant permits in a timely fashion, they risk losing businesses.
“Even as the economy starts to recover, construction will lag five quarters,” he said.
Included in the study were Arvada, Aurora, Boulder, Brighton, Castle Rock, Fort Collins, Golden, Greeley, Greenwood Village, Littleton, Longmont, Loveland, Westminster and Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson and Larimer counties.
Margaret Jackson: 303-954-1473 or mjackson@denverpost.com
