Houston Plans And Permits’ Post

As of August 2024, the #Orlando #apartment #development pipeline remains among the most elevated in the nation, ranking eighth in the U.S. for the number of multifamily units under construction as a share of total inventory. That being said, the once-busting development pipeline has been slowing for six consecutive quarters. Population and employment growth are beginning to slow as well, and collectively are going to have an impact on renter demand in 2025-2026. In the meantime, however, it has been robust, with more than 9,300 total units absorbed year to date. That alone is roughly 35% more demand than occurred in all of 2023, with several months left to go in the year. So what lies ahead in 2025, and where do we go from here? CoStar subscribers can read on for my latest Orlando story.

Since 2020, around 70% of new construction permits across #southflorida have been concentrated in multifamily units, with the majority being apartments for rent. Before the financial crisis the permit breakdown was closer to 50/50, between single-family and multifamily. This change in supply and other factors have significantly impacted the costs of #renting versus #homeownership in the area. CoStar Group subscribers can click the link to find out more! #CRE #miamidadecounty #browardcounty #palmbeachcounty

At some point, every building needs upgrades, repairs, or modifications. We provide quality construction services for multifamily housing units, commercial properties, student housing, low-income housing, industrial properties, and more. See how we can help serve your next construction project! Link: https://lnkd.in/eC9ns6_C #construction #realestate #propertymanagement #studenthousing #multifamilyhousing #weareadvanced

Tight multifamily fundamentals in Milwaukee and Madison aren't positioned to let up any time soon. The two metros stand as some of the highest-occupancy markets in the country and demand for new supply relative to the pace of new supply additions has been among the strongest nationwide. In fact, Madison ranks as the top market in the country for what I would call a severe supply-demand imbalance. Across the country, it would take an estimated 2.9 years on average for renters to absorb new and under-construction inventory if nothing else were to break ground today. In Madison, that figure falls to just 1.3 years, with Milwaukee also outperforming the average at 2.7. Construction activity has fallen in Milwaukee and Madison by roughly 35% and 50% from peak levels two years ago, and based on the recent velocity of construction starts, this figure is set to fall further in the coming quarters. With recent rate cuts, we could see some relief on the borrowing side that could help put more shovels in the ground early next year, but there really needs to be a concerted effort across state, county, and local governments to dig us out of these holes. And this isn't just true in Milwaukee and Madison. There's a statewide housing shortage. As announced by Lafayette Crump at the BizTimes Media Commercial Real Estate and Development Conference a couple of weeks ago, I applaud the City of Milwaukee for pursuing the development of a program that would help fund the development of housing at 60-100% of AMI. In conversations I have with developers across the state, it's clear that new tools are needed to help facilitate development across a variety of housing types and price points. There is no one-size-fits-all solution, and we don't know yet what it'll look like, but this program could be a great step toward progress and addressing prohibitive funding gaps that have seen many developers to go pencils down in a segment that sorely needs it. Thoughts? Questions? Seeing something else in the market? Drop a comment 👇

Florida's booming economy, demographic shifts, and favorable tax environment are fueling an unprecedented demand for multifamily housing. In this new article, we explore the opportunities and challenges shaping this thriving market. Whether you're a developer or investor, understanding these key trends can position you for success. Red Fox Construction is leading the way, providing innovative and sustainable solutions to meet the state's evolving housing needs. Check out the link in the comments section to learn more about the future of multifamily construction in Florida! #MultifamilyConstruction #FloridaHousing #RealEstateDevelopment #RedFoxConstruction #SustainableBuilding #FloridaGrowth

As of 2024, having spent 20 years in real estate in Florida, I've found that buying existing properties is often the smarter choice. While building new can seem appealing, it usually ends up being more expensive per square foot when you consider land, materials, labor, and permits. Additionally, the time required for approvals and construction can delay potential rental income. In Florida, purchasing existing properties allows you to start earning rental income more quickly and build equity through sweat equity by making improvements yourself. It's important to note that you might need to adjust your cap rate expectations in the short term, but this trade-off can lead to better long-term gains. Overall, investing in existing properties in Florida typically offers a more cost-effective and faster route to building a successful real estate portfolio.

🌟🏡 The Orlando multifamily market is gearing up for stronger fundamentals, bringing a more balanced dynamic between supply and demand. 📊🏗️ For the third consecutive year, new supply is anticipated to exceed net absorption; however, a narrower surplus is expected compared to 2022 and 2023. 📈 Check out our 1Q24 Multifamily Construction Pipeline Report for Orlando here: https://lnkd.in/egv_Xyad #Orlando #RealEstateForecast #SupplyAndDemand #mmgrea #multifamily

🏗️ Have you ever wondered the process of commercial land development? Look no further! Fruition Developments LLC is your go-to for all things real estate and land development 🌐. We specialize in both horizontal and vertical construction, ensuring your commercial property meets its highest potentials 🚀. Taking the right step in land development requires extensive knowledge and detailed strategies 🧩. Good news! You're in safe hands with us 🔒! Our expertise also claims the upper hand in residential development. From creating a wholesome neighborhood environment to building sky-touching high-rise structures 🏢, our team is all about designing dreams into reality. Amazing, right? Yet, these are not our only services! We also provide land syndications and investments, making sure you're getting the best from your land ownership. We're not just about buildings, we're about shaping future communities 👨👩👧👦. Acreage property due diligence: It sounds technical, right? 🧐 But don't worry, we're here to simplify it for you. Whether you are a residential or commercial landowner, our diligent team will make sure that your property is verified and validated properly. Owning a property requires management, and that’s where our property management services come in. We handle both commercial and residential properties, allowing you to reap the benefits without the headache 😌. Investing in real estate? Let us guide you through! With our expert services in commercial and residential real estate investments, we'll ensure that you're getting the best deal around 💼. Give us a call 📞 at 952-456-2277 today for your one-stop real estate solutions! #FruitionDevelopmentsLLC #LandDevelopment #RealEstate #Construction #Residential #Commercial #DueDiligence #PropertyManagement #LandSyndications #Investments #Consultation #ProjectManagement

🌟🏡 The Orlando multifamily market is gearing up for stronger fundamentals, bringing a more balanced dynamic between supply and demand. 📊🏗️ For the third consecutive year, new supply is anticipated to exceed net absorption; however, a narrower surplus is expected compared to 2022 and 2023. 📈 Check out our 1Q24 Multifamily Construction Pipeline Report for Orlando here: https://lnkd.in/gty8dfUg #Orlando #RealEstateForecast #SupplyAndDemand #mmgrea #multifamily