Five of the top 10 markets for commercial and multifamily construction starts in the first half of 2018 showed increased activity compared to the same period in 2017, according to Dodge, Data & Analytics.
The city paved the way for taller buildings on the site just last year as part of a broader plan to ease an affordable housing crisis.
Approximately 54.7 million sq. ft. in new office deliveries are projected for next year.
In 2018, less than 30 percent of the apartments scheduled to open are garden-style apartments, according to RealPage Inc.
This spring, Duke Realty bumped up its forecast for development starts in 2018 from a range of $500 million to $700 million to a range of $650 million to $850 million.
For those in the real estate business it’s imperative to continue to adjust to trends that are attracting this younger demographic.
In many cases, new properties close to campus are drawing students away from properties farther out.
The most important thing developers and contractors can do to minimize risk is to include clear contractual roadmaps for addressing eventualities such as price increases on raw materials.
Later this month, a non-profit organization affiliated with Purchase plans to sell $14.5 million in unrated tax-exempt notes to begin development of a 385-unit retirement community.
Real estate investors and developers need to keep in mind that California is due for a major earthquake.
