The month saw double-digit increases in both groundbreakings and permitting for multifamily projects, according to data from HUD and the Census Bureau released Friday.
“This property represents one of the largest concentrations of approved land in the coveted Lehigh Valley area of the Interstate 78/81 Corridor,” says CBRE's Brian Fiumara.
“Center City is coming off a record year in total construction completions in the downtown market, with 1,624 new units delivered in 2016, and absorption was strong in 2017,” says Jared Jacobs, Cushman & Wakefield's research manager.
With more major diversified financial institutions appearing to be taking ownership stakes in debt funds, mortgage-banking firms and technology platforms, the waters are growing murkier for those that have been in this space for some time, panelists at MBA CREF tell attendees.