This week we are looking at the most popular trends in multifamily building and development. From small green micro apartments to high rise urban buildings to suburbia, multifamily building and development is on the rise.
The Future Promise of Sustainable Urban Design
World-renowned architect and urban designer Michael Von Hausen shares his vision for green, sustainable multifamily projects and other urban spaces.
"This is the great challenge for me—creating urban design with a conscience—balancing accessibility on a social basis, with economic prosperity and environmental integrity"
Investors Bet Tiny Micro Apts. Can Yield Outsized Returns
The multifamily professionals at CoStar explain how the tiny green footprint of micro apartments is attractive to investors and developers alike.
"…studio micro apartment units are getting a long look from developers and investors hoping to maximize returns."
Is Infill Tapped Out?
While infill remains the number-one choice of investors, high pricing and competition has been turning more attention to alternative suburbia markets.
"When you build all-urban, you’re delivering the property at the top of the market, whereas when you develop product in the suburbs, you can spread the price points around."
PSU Releases Quarterly Commercial Real Estate Report
Local multifamily rents continue to grow. Report predicts high demand for rentals continuing for several years.
"…reports effective rent growth remained steady in February at a rate of 3.53 percent…"
Build Up: High Cost of Wood Brings New Opportunity for Developers
The steep rise in wood prices is narrowing the pricing gap between wood and steel. Multifamily developers are looking at the financial advantages of building urban high rises over the suburban garden apartments communities.
"You can justify a podium in wood frame at today’s new construction costs,” Humphreys says. But developers need to take a look at all factors involved in the deal. “In some cases,” Humphreys notes, “it’s more expensive than a high-rise."
With so much about multifamily investing changing, from sustainable practices to new, even smaller apartments, count on the expert staff at Kernors LLC to point you in the right direction. Since 1924, clients have trusted us for our knowledge of the market and our sound investing practices.