A condominium or loft conversion is a change in an existing form of ownership to a multiple form of ownership, which may or may not be accompanied by a change in usage. Because Colorado real estate values have appreciated in the 90's, conversions are again providing opportunities for developers and buyers. Today's combination of acquisition cost, expenditures for physical upgrading of the property, Colorado's flexible law, the Colorado Common Interest Ownership Act (CCIOA), and a growing buyer marketplace has resulted in the re-emergence of conversions. Popular projects today include residential condominium conversions, warehouse conversions to loft units, and other opportunities presented by unique properties.

The evaluation of the suitability of a property for conversion involves the consideration of many factors.  Many areas should be evaluated and developed by a team. The project team should include the developer, engineer, architect, marketing agent, sales agent and attorney. The team should consider location of the community, size of the community, phasing considerations, building design, upgrades or renovation, community and unit layout, and tenant sales in evaluating suitability for conversion.

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