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Illustration: Sarah Grillo

The legalization of weed may be giving an assist to the commercial real estate industry, according to a member survey by the National Association of Realtors.

Why it matters: More states legalizing weed equals more demand for space to store, grow and sell it.

Details:

  • Over one-third of respondents in states where weed has been legalized the longest cited the marijuana industry as one of the many reasons why real estate inventory was tight.
  • In states where weed was legalized more recently, 23% partially blamed the industry for limited inventory.

On the residential side: Almost half surveyed in states where medical and recreational marijuana was legalized before 2016 reported lease addendums that restrict growing on the property — compared to one-quarter or less in other states.

Go deeper

John Frank, author of Denver
Apr 20, 2021 - Axios Denver

What national marijuana legalization would mean for Colorado

Illustration: Sarah Grillo/Axios

Colorado's cannabis industry is enjoying an era of prosperity as national attitudes toward marijuana become more relaxed.

Driving the news: 17 states have legalized recreational marijuana sales and pot enjoys its highest popularity ever with 68% of adults backing legalization, according to a recent Gallup poll.

House approves cannabis banking bill

A worker gathers hemp flowers for processing at a farm in Milton, New York. Photo: Paul Frangipane/Bloomberg via Getty Images

The House voted 321-101 Monday to approve a cannabis banking bill that would allow banks to "provide services to cannabis companies" in states where marijuana is legalized.

Why it matters: In the past, banks have been hesitant to do business with companies involved with cannabis for fear of violating federal laws. If passed, this bill would remove one of the barriers to developing a national cannabis industry.

Apr 20, 2021 - Axios Denver

Colorado pushes for social equity in the cannabis industry

Illustration: Brendan Lynch/Axios

White business owners overwhelmingly dominate Colorado’s cannabis industry, but the market’s lack of diversity could soon change.

What’s happening: New efforts at the state and local level are moving forward to foster industry opportunities for communities of color that have been disproportionately harmed by the war on drugs.

Driving the news: Tuesday — on 420 —Denver Mayor Michael Hancock is signing the most sweeping set of changes to the city’s marijuana regulation since recreational pot sales were legalized in 2014.