Multifamily Construction Starting Up Again

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.

Apartment Building on Magnolia Avenue, Fort Worth
Image by StevenM_61 via Flickr

“Anyone who has the financial wherewithal to start building today is going to face a great environment when they deliver that asset two or┬áthree 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.

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