The Mogharebi Group的动态

Over half a million apartments are slated to complete construction this year, up 9% from 2023 and 30% from 2022. As highlighted by GlobeSt.com, over 60% of this new supply is concentrated in just 20 metros with the total number of apartments being added enough to roughly house the entire population of Atlanta. Of the metropolitan areas set to receive a majority of the new inventory - Arizona, New York, and Texas are notable standouts. The Mogharebi Group recognizes the potential for opportunity in these growing #multifamily markets, with a particular interest in #Phoenix.

Look at all the Teal in downtown Austin coming soon. An aerial rendering of Downtown Austin. Buildings in gray were completed from 2023-2024, buildings in red are under construction, and buildings in teal are in the planning stages. Residential market Downtown’s population grew by about 850 in 2023, raising the overall population to 15,360, or about 1.6% of Austin’s overall total, according to DAA’s report. The amount of multifamily development downtown is meeting the needs of the rising population. Last year saw 1,303 new multi-family units delivered, with a further 3,062 under construction. Those multifamily units are being added to a robust supply of 3,242 condos and 7,082 apartments. Waterline will be the tallest tower in Texas once complete, and it is just one part of the 2.56 million square feet of office space under construction downtown. https://lnkd.in/gsh-nbq3

Just Listed: Allapattah Covered Land Assemblage | 81,750 SF | $109 PSF INVESTMENT HIGHLIGHTS *Covered Land Play: All Short-term leases with 3 out of 4 tenants having a 6-month termination clause, allowing a developer the opportunity to plan a project without incurring operating expenses or an owner/user to operate their business from this location. *Centrally Located: Less than ? mile from the 112 Expressway which provides easy connectivity to Wynwood, Medical District, Miami River, Downtown, Brickell & Miami Beach. 1.5 miles from Miami International Airport. *Block to Block: Subject property consists of Six parcels totaling 1.87 Acres (81,750 SF) and 25,675 SF of Gross Leasable Area. The property is comprised of two different zonings, Mixed-Use and Light Industrial. 40,500 square feet are zoned T6-8-O while 41,250 square feet are zoned IU-1. *Favorable Zoning: The property can accommodate development of 139 Multifamily units among other uses such as Industrial, Retail, Multifamily, Self-Storage & Office. *Lot Dimensions: 300 feet of frontage along NW 36th Street | 272.5 feet of Depth | 27,000 vehicles per day. *Allapattah is one of Miami’s fastest growing neighborhoods; 1,250 units projected to be delivered within the next 5 years. Population exceeding 241,050 within a 3-mile Radius.

Interest rates followed closely by construction costs have been the largest contributor to a stall in development in Markets like Westfield.?The developers and owners can not make the numbers work at a reasonable lease rate and tenants can only absorb so much of the increases.?Until we have a little smidge of a correction, we will continue to see well located land sit idle.?#cre #realestate #developmentground #westfieldindiana?

According to The Wall Street Journal and CoStar Group Inc., vacancy rates in apartment buildings are declining, signaling a positive trend for multifamily housing. This shift highlights not only a strong desire for flexible living options but also the resilience of multifamily developments in today’s ever-changing market. TCG takes pride in its extensive portfolio of quality rental properties. In the evolving landscape of construction and development, TCG responds to demand by concentrating on efficient project timelines, improving building quality, and incorporating amenities that resonate with tenant priorities. A well-occupied building represents more than just success; it reflects thoughtful design, a strategic location, and a deep understanding of community needs. Excited to see where this trend takes us and how we can continue to contribute to vibrant, sustainable urban living spaces! #BUILDWITHCONFIDENCE?#MultifamilyHousing #RealEstate #PropertyManagement #UrbanLiving #BuildingCommunity #TCGreen #Philadelphia https://lnkd.in/e9hMMzZh ?

Jersey City Development Sells for the Second Time, Heads Towards Groundbreaking The New Jersey office of IPRG, led by partner Yanni Marmarou, has announced the sale of a 200-unit development site located at the corner of West Side Avenue and Fisk Streets. The $9.35 million deal represents IPRG’s second sale of the subject property within a span of 24 months, as it previously changed hands for $6.2 million in January of 2022. 200 dwelling units are included in the development, set to break down as 41 studios, 119 one-bedrooms, 32 two-bedroom units, and eight three-bedroom spaces. The project will be utilizing an affordable housing overlay bonus within the West Side Avenue Redevelopment Plan, which requires 20 units to be set aside at the complex for those with modest incomes. Parking for 100 cars in a garage is included, as is a bicycle room with space for 81 bikes. The project will also be providing a stormwater detention tank as well as an extensive green roof area of approximately 4,298 square feet on the top of the historic building. The future redevelopment of the West Side Avenue site adds to the momentum from other multifamily projects that have popped up in the neighborhood. Major developments including The Birch House, The Agnes, and 3 Acres have opened in recent years, while other long-term projects like Bayfront look to transform the area. #jerseycityrealestate #westsideavenue #redevelopmentplan

Did you know that Phoenix ranks No. 2 in the U.S. for real estate development over the last 50 years? From flourishing single-family homes to rapidly growing multifamily units and a booming industrial sector, the city is a growth powerhouse. With over 215,000 single-family building permits issued and the best-performing decade for multifamily construction underway, Phoenix is shaping the future of real estate. #RealEstateDevelopment #PhoenixRealEstate

The new development at 1848 Vyse Avenue in the South Bronx marks a significant addition to the area, especially given the rarity of large residential projects in recent months. Spearheaded by Dunn Development, this 11-story building will cover approximately 90,000 square feet and feature 120 residential units, with a portion designated for low-income housing. The project, confirmed as a rental development, also includes a parking garage and highlights Dunn Development's commitment to affordable housing, evident in their past projects like the Bergen Saratoga Apartments and Frost Street Apartments. The development, located just below the Cross Bronx Expressway near East 176th Street, is near another Dunn project, Via Vyse, at 1812 Vyse Avenue—a supportive and affordable housing project itself. Despite the proximity and simultaneous purchase of the properties in 2016 for about $7.1 million, the connection between Via Vyse and the new development remains unspecified. This initiative emerges as one of the very few projects exceeding 100 units filed in the city lately, with only three others noted in March—all in Brooklyn. The recent state budget's provisions, including a new affordable housing tax break and incentives for office-to-residential conversions, may further encourage these developments. This project also raises questions about the need for a balance between rental opportunities and affordable homeownership particularly in the Bronx, which could provide long-term economic benefits and stability not typically afforded by rental solutions. #SouthBronxDevelopment #AffordableHousing #DunnDevelopment #NewYorkRealEstate #UrbanDevelopment https://lnkd.in/ejiRqe2T

Once again, New York remains at the forefront of apartment construction, holding its position as the top market in the U.S. for the third year running. With over 600,000 multifamily units expected to be completed across the nation in 2024, New York continues to show unmatched resilience and demand in the sector. However, this boom is not without its challenges. Industry reports suggest that construction delays are increasingly being caused by challenges in securing financing and concerns over the economic viability of projects. These factors are expected to influence the timing of future apartment completions and could reshape rental market trends as the sector adapts to the surge in new supply. Is your project facing financial hurdles or delays? BRIX Funding is here to provide fast and flexible funding to keep your construction timeline on track. Read more about this trend and what it means for the industry in the full article from GlobeSt.com below. #RealEstate #Construction #NYC #BRIXFunding

A smart purchase at a good price!