Growth of medical-marijuana demand fuels Colorado land rush
Real estate brokers say that Colorado's medical-marijuana law has sparked a land rush, as entrepreneurs lured by a growing number of licensed users search for properties for growing or selling pot.
In a down real estate market, landlords who might otherwise wait for more conventional tenants are snapping at the opportunity presented by medical-marijuana dispensaries, said Darrin Revious, a broker with Shames Makovsky Realty.
Since [Colorado]voters approved Amendment 20 in 2000 allowing the use of medical marijuana to treat eight specific conditions, the number of people legally allowed to buy the herb has steadily climbed. In 2007, 1,955 people held medical marijuana cards; the following year, there were 4,720 people on the Colorado Department of Public Health and Environment's Medical Marijuana Registry. The number has grown to about 13,000, health department spokesman Mark Salley said.
In a down real estate market, landlords who might otherwise wait for more conventional tenants are snapping at the opportunity presented by medical-marijuana dispensaries, said Darrin Revious, a broker with Shames Makovsky Realty.
Since [Colorado]voters approved Amendment 20 in 2000 allowing the use of medical marijuana to treat eight specific conditions, the number of people legally allowed to buy the herb has steadily climbed. In 2007, 1,955 people held medical marijuana cards; the following year, there were 4,720 people on the Colorado Department of Public Health and Environment's Medical Marijuana Registry. The number has grown to about 13,000, health department spokesman Mark Salley said.
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- groups:
- Community
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- tags:
- Economy, Real Estate, Marijuana Reform
