The Multifamily Real Estate Group LLC.
The Case for New Development in a Soft Market
Manny J Herrera
The Multifamily Real Estate Group
Introduction
In a multifamily real estate market experiencing falling rental prices and high vacancy rates, the idea of investing in new construction may initially seem counterintuitive. However, ground-up development presents a unique opportunity to build for the future, often positioning investors for greater success when the market rebounds. While risks are inherent, several factors make new construction an appealing option even during market downturns
Our Protocol
Having a well-defined protocol for multifamily development is critical in the real estate business because it ensures consistency, risk management, transparency, team collaboration, and efficiency throughout the development process. By adhering to a structured approach, developers can mitigate uncertainties, optimize resources, foster communication among team members, and align the project with the long-term strategic goals of the business. Here’s a revised protocol that highlights why each step is important:
