You keep hearing about how important good amenities are for a successful multifamily development. As a result, developers are putting more thought into outdoor areas, whether a roof, a terrace, or a courtyard. Adding an indoor or outdoor pool is an expensive investment, but is it still one you should consider? Swimming is the fourth most […]
Author Archive: Blair
Developers | Are Transportation Costs Affecting Material Cost?
What are transportation costs? Transportation costs are all the expenses related to the transportation of raw materials, finished products, and employees. Have these affected building materials costs? Read on! The price of truck transportation of freight increased 2.9% in May and has climbed 25.8%, year-over-year. Long-distance and local motor carrying prices are up 28.2% and 18.4%, respectively, […]
2022 Insights | Construction Material Price Updates
Building materials costs have soared in the past few months, and so have equipment prices! Due to shortages prompted by pandemic-related supply chain issues, increased global demand, labor disruptions, and extreme weather, we continue to see an increase in construction costs. Here’s an updated look at building materials prices. According to the latest Producer Price Index […]
Apartment Demand—Nearly 98% Occupancy
Demand remains strong in most regional markets across the U.S. As a result, the need for housing keeps rising. First-quarter data from RealPage shows historically unprecedented demand, occupancy, and rents in the multifamily market. What is the forecast for the Housing Market? Read on! Renters leased 700,000 additional apartments last year, more than doubling the five-year […]
Developers: Hotels are Making a Comeback!
The hospitality industry has undergone a seismic transformation since 2020. This period of change is set to continue through 2022 and 2023, with shifts in demographics and technology. Developers: Read on for good news updates in the hotel sector! According to CBRE’s latest 2022 Hotel Horizons forecasts, US major market revenue per available room will increase […]
Developers | Cheaper construction costs ahead!?
Rapidly rising interest rates and increasing construction costs have decreased builder confidence. With construction costs at an all-time high, you may be thinking it’s not the right time to move forward with new development deals, but that may be a mistake! Great opportunities may lay ahead for developers who are ready. Read on to find out why. […]
Apartment Developers: Higher Efficiency = Higher ROI
For several years, apartments have been shrinking in size, partly because smaller units are more profitable for property owners. However, as the number of US renters increases, so does the demand for larger units. How can you meet the market need while remaining profitable? Read on! The building efficiency ratio represents the share of net rentable […]
Developers: Here’s where to build in 2022
The rise of remote work has substantially affected where and how people live, as seen in the changing relationship between housing and commute times. Homebuyers have placed greater importance on affordability and space than proximity to work. Where’s everyone going? Read on. Suburban housing markets are seeing high demand and rapidly rising prices, forcing some buyers […]
Multifamily Amenities | Increase Your Rental Rates!
The amenities found in a multifamily development have become the YES factor for tenants. Amenities such as a pool, fitness center, business center, indoor court, game room, dog park, and outdoor grilling and dining areas are just some of those great add-ons that can boost your project. It’s time to amp up your multifamily development with some […]
Multifamily Trends | Amenities that Boost Rental Rates
With the rise in popularity of multifamily developments, new market trends have disrupted the industry. Pools, playgrounds, and dog parks remain the overall top amenities in communities. But how are renter preferences changing as it relates to in-unit amenities? Read on! Shifting the population away from urban areas is still a significant trend in multifamily product development […]