“The commercial market continues to grow gradually. New office construction is limited as tenant rates remain well below the cost of new builds. However, tenant improvement projects are gaining momentum,” he adds. 

In the K-12 sector, the Palmer High School renovation projects lead the way, while most districts are delaying additional bond measures until next year. And Miller says advanced technology industries, including data centers and aerospace, are expanding and reconfiguring spaces to meet evolving needs.

 Additionally, “Colorado Springs Utilities is actively modernizing infrastructure, driving new electric generation initiatives and upgrades to water and sewage systems,” he says.

“Government construction is largely on hold as national priorities are finalized,” Miller adds. “Health care modernization is ongoing, with UCHealth increasing bed capacity to meet rising demand.”