Commercial Real Estate & Business News – August 1, 2016

Rents are soaring and demand for apartments is historically high, but some developers and landlords are overestimating the strength of the U.S. apartment market – and paying for it in quarterly earnings…»
Only about 10 years ago, the multifamily industry fretted that an ever-increasing number of Americans would abandon the apartment market, spurred to buy residential properties by easy credit and official policy that encouraged homeownership. A lot can happen in a decade. Now the rental market still drives the housing recovery, with over 36 percent of US households renting in 2015. That’s the largest share since the late 1960s, when there was a shortage of for-sale housing…»
Taking shape on an 11-acre plot of land in the Chandler submarket, the community will offer 283 upscale residential units. Jefferson Chandler will feature a resident amenity package including a dog park and dog wash, a putting green, a resort-style pool and 24-hour access to package lockers…»
Eastmark earned another top spot among the top 20 best-selling master-planned communities in the nation during the first half of 2016, according to a report released by real estate advisory group RCLCO. Eastmark was ranked in the 11th spot in the country and number one in Arizona…»
The disparity between luxury and affordable multifamily construction has been well documented in recent years. And with more renters in the market affordable apartments are few and far between. According to the latest analysis those affordable units are only growing scarcer…»