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Joe Wilber

CORAL GABLES, FL–Joe Wilber is Senior Vice President Investments East for Gables Residential. He has over 30 years’ experience with Gables and its predecessors, and is responsible for all of the development and acquisition activities in Atlanta, Florida, and the DC area. He discussed topics ranging from why the multifamily market is so busy to its value in today’s market.

What is the state of the Coral Gables multifamily market? Are there still a lot of buildings going up in the area?

Wilber: Coral Gables ranks among the most exclusive housing markets in the country, which is why we are seeing such a significant amount of new multifamily product being delivered. Gables Residential expects that demand will remain strong, particularly with higher-end rental communities such as Gables Columbus Center, which recently opened. While there is a range of multihousing options in the area, and others in the pipeline, sophisticated product with condo-quality appeal are limited, yet exceedingly sought-after. In addition, city-centric locations with a live-work-play focus are harder to source. Therefore, demand for these locations remains high.

What is a new trend you are seeing in the commercial/multifamily market?

Wilber: One major trend we are seeing in the multifamily market is the push for additional amenities with a heavy focus on elevated concierge services and features you would typically only expect to find in ‘For Sale’ condominiums and resort communities. Developments, heavy in amenities, are starting to shift more toward gathering and private spaces, as an addition to pools and movie theaters. Gables Columbus Center, which has 200 apartment homes, has a sophisticated amenity level with a vast array of offerings, but goes a step further by placing a concerted focus on excellent customer service.

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