The real estate recovery will continue to move forward in 2013 but slowly. Global economic turmoil will restrain confidence but overpriced core markets will begin to drive interest in strong secondary markets. Most locations can still not support commercial construction because of the weak tenant demand and employment outlook. Multifamily development remains the only strong sector but is expected to be peak in 2014-2015.
Posts from the ‘Multifamily Development’ Category
The streets of Boston in the Back Bay area are energized by restaurant and bar goers, shoppers and residents throughout the day and into the night. The place is alive everywhere you look and the streets are clean, safe and inviting. The Newbury Street retail scene is incredibly vibrant and is of the best of its kind anywhere in the world.
Raleigh, NC – Woodfield Investments is pleased to announce the recent ground breaking on December 9, 2011 for Woodfield Creekstone, a 256-unit Class A garden apartment community located in Raleigh-Durham, NC.
When completed, Woodfield Creekstone will be comprised of 256 units in 10 three or four story buildings with amenities including a resort quality pool, clubhouse, landscaped grounds, as well as garage and surface parking on the 15 acre site. The project location is at South Miami Boulevard and Hopson Road, immediately west of the intersection of Interstates 540 and 40, 8 minutes from Raleigh-Durham International Airport, 20 minutes from downtown Raleigh, and 15 minutes from downtown Durham.
“Woodfield Creekstone has been designed to be a Class A apartment community in every respect with architecture, amenities and an interior design that will be well received by all of our future residents, as well as our neighbors”, said Michael Underwood, founder…
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Acquisitions for multifamily are occurring at a faster pace than other property types because of the liquidity provided by Freddie Mac and Fannie Mae, as well as FHA/HUD (the Agencies), allowing leveraged buyers to purchase existing properties at up to 80% LTV, versus roughly 65-70% for other property types.
In Charlotte’s hot urban areas, demand for high quality multifamily properties is quickly on the rise. A great example is Charlotte’s newest infill redevelopment project, Metro 808. Since leasing began in early April 2011, 55 of the first 106 units to receive certificates of occupancy have been leased.