So you think you know the facts about multifamily prospects in CBDs? People are fleeing central business districts because of crime, renters prefer the suburbs, CBDs have more vacancy, rents are too high, and capital for CBD development is scarce.
Following the pandemic, “CBDs were never going to be what they once were as the suburbs continued to garner outsized demand, rent growth, and, consequently, investor capital,” Cushman & Wakefield said in a new report.
But the same report says new data shows those facts are myths. “In recent quarters, CBDs have shown some encouraging signs of rebound, which sets these districts up for better performance in the years ahead, especially as the majority of investors chase product and development sites in suburban areas.”
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