Texas Affordable Housing Developers Find Creative Ways to Secure Gap Financing

By Taylor Williams In an era in which land and construction costs are perpetually on the rise, developers of affordable housing must be able to navigate a complex web of federal, state and local programs in order to secure gap financing — the capital that covers the delta between total development costs and those covered by tax credit equity, municipal bonds or other types of subsidies. Understanding and effectively utilizing the various initiatives and incentives — density bonuses, …

Growing Pool of Investors Targets Multifamily, Industrial Deals in Fort Worth

By Bobby Weinberg, senior vice president of debt and equity, NorthMarq Employment growth is providing a powerful tailwind for the Dallas-Fort Worth (DFW) commercial real estate market. And while Dallas may be the headline name that is attracting employers and investment capital to the metroplex, Fort Worth is commanding attention as a formidable market in its own right. DFW embodies a classic story of a high tide raising all boats. The metro has been one a national leader in terms of …

Rent Growth, Absorption in Boston Multifamily Market Begin to Exceed Expectations

By Simon Butler, vice chairman, CBRE; Biria St. John, vice chairman, CBRE; John McLaughlin, senior vice president, CBRE; and Colleen Pentland Lally, vice president, CBRE As we emerge from pandemic-era lockdowns and restrictions, Boston’s multifamily market is proving once again to be extremely resilient. With businesses, offices, restaurants and leisure activities rapidly returning to normal, both the overall economy and multifamily fundamentals are rebounding with a velocity that has far …

Opportunities Abound for Buyers and Sellers in New York City’s Multifamily Market

By Lev Mavashev, founder and principal, Alpha Realty Last year in 2020 and even now well into 2021, the COVID-19 pandemic has many New York City property owners feeling like deer in headlights. Should I push forward? Take a step back? Or should I just freeze and brace for impact from the worst disaster to strike the world in living memory? While little is certain in these uncertain times, for New York’s multifamily owners considering their future beyond 2021, values might drastically be …

Investors Take Notice as RGV Multifamily Market Emerges from Pandemic Lull

By Brad Frisby, associate, NAI Rio Grande Valley As the national economy and society as a whole move toward recovery from the COVID-19 pandemic, multifamily investors of all varieties, eager to deploy capital into the space, are increasingly looking at markets in the Rio Grande Valley (RGV). While the region’s multifamily investment market has unquestionably experienced its share of decreased activity over the past 15 months, deal volume and velocity have really picked back up through the …

Pittsburgh Development Landscape Favors More Multifamily, Adaptive Reuse Projects

By Mark Fogel, president and CEO, ACRES Capital As the state’s second-most populous metro, the Pittsburgh MSA is the anchor of western Pennsylvania. Over the last 20 years, Pittsburgh has pivoted and evolved into a hub for the healthcare, education and technology industries, thus attracting an influx of young, high-earning millennials. Over the last 10 years, Pittsburgh has undergone an economic resurgence. Firms such as Google and Uber have opened regional headquarters in the city, lured …

Multifamily Is A Force Multiplier in Northern New Jersey’s Economic Recovery

By Ken Uranowitz, president, Gebroe-Hammer Associates When it comes to investment in multifamily properties, as in life, change is constant. Between evolving tenant demographics and political climates to recessionary economies and a once-in-a-century pandemic, multifamily assets are continuing to prove their centuries-old knack for pivoting in times of change. Unlike any other commercial asset class, multifamily possesses an unrivaled level of agility rooted in its most-important attribute: …

Stable Columbus Multifamily Market Balances Urban, Suburban Growth

By Ryan Duling and Andy Warnock, Lument Sizing up the Columbus, Ohio multifamily market is more challenging than it may seem to the casual observer. Neither fish nor fowl, Columbus doesn’t fit comfortably within the definitions of either growth or high-yield markets. Looked at from one angle, it appears largely suburban and conventional, but from another, increasingly sophisticated and demographically youthful.[caption id="attachment_290333" align="alignright" width="100"] Ryan Duling, …

Twin Cities Multifamily: A Look Back, What’s Next for the Resilient Market

By Ted Bickel and Jeff Budish, Colliers MSP At the start of the pandemic last spring, conversations with developers, investors and operators varied from discouraging to catastrophic. Everyone expected the worst. Luckily for the industry, that is not what happened. Amid a year of great uncertainty across the economic spectrum, the Twin Cities multifamily market showed a great deal of resilience, overcoming many challenges in 2020.[caption id="attachment_287789" align="alignright" …

San Antonio Multifamily Market Maintains Healthy Supply-Demand Balance

By Sean Sorrell, senior managing director, JLL Last year, San Antonio’s multifamily  sector was one of the only markets nationally in which the 2020 absorption exceeded that of previous years. Moreover, the city’s development pipeline was already contracting after 2019, so additional supply reductions in 2020 and 2021 due to COVID-19 should result in rebounding occupancy across the metro. The market is maintaining balance in terms of supply and demand and is poised to elevate its …

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