GRAND RAPIDS, MI—Multifamily developments have been sprouting up throughout the Midwest in the past few years and most experts believe this will continue in 2015. But however strong the economy gets, the go-go days of 2007 will not return. “The last downturn has made everyone far more cautious when doing due diligence on projects, especially multifamily,” Joe Elias tells The Michigan native has spent 15 years developing real estate projects in the region, and recently helped launch the Grand Rapids, MI—based Loquidity, a real estate crowdfunding platform that aims to build communities by drawing in investment that might otherwise gravitate toward the coasts.

But Elias also believes that many factors will keep multifamily developments coming online in the Midwest even if developers have a somewhat more cautious attitude. In much of the region, for example, developers, municipal officials and potential renters are looking to create or inhabit living environments that are more urban, or “maximize social interaction,” making multifamily developments far more attractive than more traditional homes.

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