Will Apartment Construction Move to the ‘Burbs?

Aldo Svaldi wrote a great story last week in The Denver Post about apartment construction in Denver and the suburbs and I will highlight a few points. This data comes RENTCafe and Yardi Matrix-
Over the last 5 years 26k new apartments were built in Denver.
Over the last 5 years 15k new apartments were built in the suburbs.
In Denver 62% of those new apartments were high-end, 34% were mid-level and 4% were affordable.
In the suburbs 42% of those new apartments were high-end and 58% were mid-level.
For the last several years the Core of Denver has been the popular place to build new apartments. Will this now change because of Covid? Carl Koebel said, "It will take time for the urban-apartments to gain popularity back since part of their desirability was the proximity to restaurants and other services which have been decimated by the lockdowns. It will take years for these services to come back, if they ever reach pre-pandemic levels." Thus, expect more new apartments to be built in the suburbs.