Apartment Kick-Off Webinar: Look for Continued Multifamily Growth via GlobeSt.com

It’s not exactly a secret that in 2011, the multihousing sector was the most active one when it came to commercial real estate. In describing what will happen during the next year, panelists participating in the third annual Kick-Off Event for Apartment Development predicted continued growth and activity throughout the United States.

Greg Willett, vice president, research and analysis with MFP Research summed it up when he pointed out that the worst-case scenario for 2012-2014 would be a solid performance in this sector versus a spectacular one. “If the worst-case scenario seems pretty darned good,” he said, “the best-case scenario is downright spectacular.”

Anyone with a nodding acquaintance with the multifamily sector understands the underlying fundamentals driving growth: Constrained supply, a growing pool of young renters and a sector fueled by Fannie Mae and Freddie Mac. These fundamentals aren’t changing, noted Mark Humphreys, CEO of locally based Humphreys & Partners Architects LP, which hosted the webinar. Another trend to throw into the mix, he commented, is that the approximately 5 million apartments built during the 1960s and 1970s during the last renter’s boom are now becoming obsolete.

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