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Related: No Fear of Multifamily Overbuilding

MIAMI—Related Development's Steve Patterson tells GlobeSt.com's Jennifer LeClaire why he's confident his company will weather any multifamily overbuilding storm.

By Jennifer LeClaire | Updated on March 31, 2013

MIAMI—Related Development is building six new multifamily rental projects in Florida—and owns or controls another six multifamily projects in various stages of permitting. The first to debut is Pierhouse, a 356-unit development in the Channelside District in Tampa.

“It was important that we secured the best sites early, particularly in Southeast Florida where the most production will occur first,” Steve Patterson, president and CEO of Related Development, tells GlobeSt.com. “This comes on the tails of virtually zero new market rate rentals for the last five years and in the face of record-setting demand levels.”

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