Every week, a number of new multifamily projects hit the construction list, and every week, a new batch is unveiled as ready for leasing. One contributing factor to the demand for multifamily is the change in lifestyles exhibited by many millennials who prefer the flexibility of renting. Another contributing factor is the low or no savings cushions of many millennials who are burdened with high student-loan debt. These factors will contribute to those aged 35 and younger remaining renters, resulting in steadily increasing effective rents, according to a recent report by Marcus & Millichap.—Lisa Brown
NEWS AND NOTABLES
DALLAS—The NRP Group has launched NRP Construction, a business division that extends NRP's full suite of in-house pre-construction and general contracting services to other multifamily owners and developers in the Texas market.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
