Texas

By Taylor Williams It’s a tough time in the Austin multifamily market, and architects and general contractors (GCs) are being asked to do their part to minimize the financial distresses of their developer clients and to facilitate the work of the agencies that lease the buildings they design and build. The state capital is on the back nine — it’s tough to say which hole precisely — of an apartment building frenzy that materialized in the immediate post-COVID era. Times were starkly different then in terms of costs of capital and trended rent projections, and developers and their capital partners made hay while there was light. Project partners on developments that were delivered in the past 12 to 18 months as part of the building boom may not have felt as acutely pressured to design for efficiency. But those working on new projects today do not have that luxury and are being asked to think and design with cost savings in mind. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. One could argue that developing multifamily product with financial …