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Multifamily Market Slows, but Demand Remains Strong

Many developers still had a great 2017, and now look to 2018 with confidence.

By Brian J. Rogal | Updated on January 18, 2018

chi-30-East-Adams-Street-Chicago-Illinois-May-2009-007a (4) 30 E. Adams St. in Chicago. Listed on the National Register of Historic Places, renovation on this project is scheduled to begin in early 2018 and will include 176 FLATS-branded apartments.

CHICAGO—The multifamily market took off after the end of the recession and was soon setting records for new construction and investment, especially in core urban areas. And although a natural and largely expected slowdown has recently taken hold, many developers still had a great 2017, and now look to 2018 with confidence.

Chicago-based CEDARst just wrapped up several attention-grabbing projects, for example, and will soon break ground on several more. The company raised more than $150 million of fresh capital in 2017, with an additional $250 million projected in the first half of 2018 across a number of upcoming developments.

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