How Multifamily Developers Respond to Their Many Challenges

LOS ANGELES—Developers continue to be one of the most transformative areas of the multifamily landscape. From opportunities in redevelopment, mixed-use properties gaining traction, and the ever-popular BTR sector charging full steam ahead, the biggest challenge for developers is deciding just where to begin. A recent session at the GlobeSt. Multifamily Fall conference discussed just that, and dove deep into emerging trends, continued hurdles and looked into how the development community is responding to economic turmoil.

Moderator Scott Sullivan, principal of Relativity Architects, asked panelists to describe the state of multifamily in each panelist’s region area and the challenges in developing there. For panelist Michael Broder, CEO and co-founder of RCKRBX, there is a lot of concern about the economic conditions and how that is affecting development. “The other thing I would say is the shift of decision making criteria that renters use in how they approach their next live space and how their wants and needs are changing and it is important that owners and operators understand what kinds of things they are looking for,” said Broder. “It is key to build attractive and desirable product for those entering the market in the next 12-16 months.”