What area is your area of expertise? My area of expertise is Southern California, but for the purpose of this interview I will focus on Los Angeles County. What trends do you see presently in multifamily development in your area? The rapid escalation of construction costs has subsided and in some cases is even coming down and labor is more widely available and less expensive. Despite reduced costs, land costs have started to come down. As demand for luxury condos wane, many development sites that were once slated for condo-construction will most likely be redirected to multifamily apartment buildings or mixed-use buildings. Who are the active multifamily developers in your area? A few major multifamily developers in the area are Legacy Partners, Related Development Company, NMS Properties, JPI Development, Lowe Enterprises, Fifield Company, and JSM Development. Please name one or two significant multifamily developments in your area. What impact will these projects have on the market? One significant multifamily development is the $600 million mixed-use development on Hollywood and Vine by Legacy Partners. This project is comprised of a hotel, retail space, condominiums, and 375 luxury apartments. It is scheduled for completion in 2009. Another major development is the NoHo …