How multifamily developers are keeping the construction pipeline flowing

Abstract

Apartment developers are getting creative in order to keep the construction pipeline flowing amid construction and capital challenges. Jair Lynch Real Estate Partners had planned to have three market-rate projects start construction in 2023, but those projects are now delayed. The strategy of pivoting to mixed-income or affordable housing development was echoed by the other panelists. The trend will have an impact on construction costs as the year goes on. The panelists predict the trend will also have an effect on construction. The developers are also working with municipalities and housing authorities to reestablish a more reasonable scope of work. In market-Rate housing the pressure is to go bigger and better. On the labor front, the panelists predicted that capacity will start to start to trickle in this year of this year.