Global Recruiters of Prosper (GRN)’s Post

Townhouse construction has surged since 2009, recently reaching a record share of new housing starts. This trend highlights the challenges of affordability and rising construction costs. However, growth varies by region. Zonda's data reveals: - Atlanta leads in total townhouse projects but is down 20% since 2019. - Washington, DC and Seattle have similar project counts, though trends are moving in opposite directions. - Minneapolis, which abolished single-family zoning laws, has seen townhome construction soar nearly 150% since 2019. Follow NWM Risk Management to learn about more construction industry trends. #housingstarts #townhomes #multifamily

As NJ’s urban areas get all the attention around transit-oriented development, it’s easy to overlook the Garden State’s rural counties when it comes to multifamily construction and access to public transportation. Yet Hunterdon and Warren counties prove that developers will take notice given the right location and demand backdrop. Since 2019, rural multifamily inventory has grown 14%, most of it in Hunterdon County. Here, almost half of the new apartments built in the past five years are under two miles from a train station on the Raritan Valley Line. Strong renter demand momentum has helped as the area has seen positive absorption since 2020, a trend expected to continue through this year. #newjersey #hunterdoncounty #njtransit #multifamily #construction #costar

Zoning is being highlighted in a March Economic Report (link) provided by an article by GlobeSt.com with this quote: “Zoning reforms that are likely to increase housing supply include allowing more multifamily housing to be built (especially near public transportation hubs), legalizing accessory dwelling units (ADUs), and eliminating minimum parking requirements, minimum lot sizes, minimum square feet requirements, and density restrictions,” the report said. “None of these reforms prevent new single-family home construction; rather, the changes prevent municipalities from requiring only single-family homes.” https://lnkd.in/gf9kNr4s

How to house the “missing middle” and fill the gap in housing supply (by fixing why it’s broken, ie. doesn’t pencil, so doesn’t get built enough & fast enough to close the gap.)

How to house the “missing middle” and fill the gap in housing supply (by fixing why it’s broken, ie. doesn’t pencil, so doesn’t get built enough & fast enough to close the gap.)

Zoning regulations are changing to allow multiple dwellings on single-family lots, but the cost of building new multifamily homes remains high. Read the full article: Don't Waste Your Money On A Multiplex ▸ https://lttr.ai/AT4Iv #multiplex #construction

Approximately 30 people are moving to Northwest Arkansas daily, and the influx is reflected in the commercial real estate market. Chris Moses, principal, president, and CEO of Moses Tucker Partners, spoke on the effect of construction costs and interest rates in the market: “We’re just waiting on a rate relief and for construction costs to come down,” Moses said. “We need some relief in the debt market. Construction materials are starting to drop a little, but nowhere near pre-COVID levels.” Given the environment, Moses said the market is seeing a lot of adaptive reuse, which refers to the process of reusing existing buildings for purposes other than those which they were built or designed for. It is employed to optimize the commercial assets of existing but perhaps outdated buildings. For the full article, visit https://bit.ly/4c2puFO #NWA #NorthwestArkansas #Arkansas #CRE #CREDevelopment

Fantastic paper from Terner Center for Housing Innovation highlights the changes needed to make middle housing types such as duplexes, fourplexes and other low-rise multifamily home types feasible to build. As we've learned from ADU reform efforts, zoning changes are just the beginning. Key recommendations include: 🏡 Revise Building Codes: Aligning 3-10 unit middle housing projects with residential codes, as seen in Memphis and North Carolina, can cut costs. Allowing smaller lot sizes and single-stairway access improves design efficiency and also lowers costs 💸 Financial Relief: Reducing impact fees for middle housing or deferring fees until occupancy can make more projects feasible to build 🚗 Reduce Parking Requirements: encouraging transit-friendly housing developments can further lower expenses 🔄 Create Incentives: Simplified subdivision process, favorable construction loan terms, and predictable permitting are crucial for scaling up missing middle housing Read more: https://lnkd.in/eMU96DFH #ADUs #MiddleHousing #BuildTheMiddle

🏢 Contributing factors to Chicago's suburban multifamily market resilience include Chicago's status as a major gateway market, its relative affordability, and its position as the third-largest city in the United States. 🛡️ These characteristics act as a buffer for the multifamily sector, maintaining its appeal to investors even in a fluctuating economic landscape. 📈 Check out our most recent Suburban Multifamily Construction Pipeline Report here: https://lnkd.in/g3MWjuzD #ChicagoRealEstate #MultifamilyInvesting #CommercialRealEstate #MarketResilience #mmgrea

Construction trends in Q2 2024 are following the positive trends that Central Indiana has. The Indianapolis apartment market experienced substantial growth with the introduction of 2,243 new units. The Fishers/Noblesville submarket led the expansion, contributing 24% of the new inventory. Johnson County also played a significant role, adding approximately 13% to the recent completions. This strategic focus on suburban development aligns with the demographic shift towards suburban living, highlighting a clear trend in residential preferences. To learn more about recent trends in Indiana, check out our website (www.focusedcapital.com)