Source: Multi-Housing News by David Nischwitz

With multifamily development on the rise, many owners turn to renovations to pull ahead and remain competitive in a crowded market. David Nischwitz of Fogelman Properties explores some new redevelopment trends to consider.

With multifamily development on the rise, many owners turn to renovations to pull ahead and remain competitive in a crowded market. Additionally, owners have continued their pursuit of value-add acquisition opportunities. According to a 2017 study by the National Multifamily Housing Council and National Apartment Association, more than 4.6 million units will need to be built by 2030 to meet new demand. With more than half of the current apartment stock built before 1980, more than 11.7 million units will need upgrades over the next 12 years. Read more...