How to Fast-Track Multifamily Development

Multifamily is the most popular property for development in Los Angeles, and for good reason. There is incredible demand and opportunity. However, the market is rapidly changing, from the construction and development to the design to consumer needs. We sat down with Dale Yonkin, EVP and multifamily studio director at Nadel Architects to talk about the newest trends in multifamily development and find out how developers can curb some of the biggest challenges.

GlobeSt.com: What are some strategies for maximizing speed to market/leasing path? 

Dale Yonkin: The biggest potential development delay in Los Angeles is the city entitlement process, which confirms the size, density and design of the project prior to beginning construction drawings. This can take up to 1-and-a-half to 2 years if an Environmental Impact Report or a zone change is required. Much of this delay can be avoided by choosing development sites, which are currently zoned for residential development at a scale that works financially for the developer.