REITs and large developers are once again entering the multifamily market in select markets. According to Village Green Cos. CEO and chairman Jonathan Holtzman, “The banks are open for business for the right borrower with the right project in the right submarket.” His group recently broke ground on a 175-unit mixed-use project in Minneapolis. It’s projected to be built and leased up by early 2011.
“Anyone who has the financial wherewithal to start building today is going to face a great environment when they deliver that asset two or three years down the road,” says Highlands Ranch, Colo.-based UDR chairman and CEO Tom Toomey.
You can find out more about these and other upcoming apartment developments around the country.
Our group is on schedule to begin development of a 144-unit apartment in an emerging market along the North Carolina coast. Coming online in early 2011 seems to put us in the sweet spot.
Related articles about apartment investing:
- Emerging markets too hot? Try mature economies (seattletimes.nwsource.com)
- AppFolio and Multifamily Insiders To Host Joint Webinar for Property Managers – Five Steps to Maximize Your Online Marketing Efforts (prweb.com)
- British Columbia’s multi-family investment market begins to stabilize as prices slowly return to normal levels (newswire.ca)