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September 27, 2018

Navigating Due Diligence for Multifamily Parking Considerations

By Charles Mulligan, LEED AP

FLEXIBILITY AND FEASIBILITY ESSENTIAL BEFORE INVESTING

Multifamily development is currently an extremely profitable CRE sector, with apartment demand strengthened by an improving economy and shortage of residential homes for sale. Rents for the third quarter of 2018 are up 2.9% compared to a year ago, and occupancy rates are hovering around 95.8%. A lack of affordable housing, particularly in large urban markets, also continues to be a challenge. One of the biggest uncertainties developers face in their multifamily investments is how much parking to invest in, with parking logistics sometimes being the difference between a deal working out and falling through.

To read the full GlobeSt blog about what considerations developers should take into account before embarking on a multifamily project, click here.

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