Apartments are the development du jour among builders

Apartments are the development du jour among builders

By Donal on Mon, 07/18/2011 - 9:27am |

Getting financing is still a challenge for apartment developers today — Douglas came through again for Epstein's latest project — but apartments are now the favored class of commercial real estate among buyers and builders. If you see a building under construction, it's most likely an apartment complex.

The tepid economy and cratered housing market have been good for apartment landlords, analysts say, and the slow pace of recovery is expected to help keep apartments the most desirable abode for many in the years ahead.

"The next decade is likely to be the most profitable for our industry in the last 20 years," said Charles Brindell Jr., president of Mill Creek Residential Trust, a real estate developer that plans to build 350 units in Irvine.

Homeownership goes in and out of favor, UCLA professor Stuart Gabriel said, and now it's in decline.

URL:

http://www.latimes.com/business/la-fi-commre-quarterly-apartments-20110717,0,6536545.story

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The problem is Donal, that the places that are over built housing wise are also over built apartment wise. Good for tenets but in the log run not that good for the community. And yet there are still apartments and even townhomes being built in these same areas. There by depressing things even more.

by cmaukonen on Mon, 07/18/2011 - 1:16pm

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