MULTIFAMILY NEWS
- WalletHub just released its most liveable capital cities. Ranking factors include affordability, economic well being, quality of education and health, and quality of life.Did you make the list?
10. Des Moines, Iowa
09. Cheyenne Wyoming
08. Denver, Colorado
07. Concord, New Hampshire
06. Bismarck, North Dakota
05. Lincoln, Nebraska
04. Madison, Wisconsin
03. Raleigh, North Carolina
02. Boise, Idaho
01. Austin, TexasSee the whole list here.
- Mobile home investing? That’s right. The mobile home sector has seen enormous growth in recent years. This sector is offering investors a unique opportunity to collect monthly lease payments, PITI (principal, interest, taxes, and insurances) payments, and apartment rent when available. Learn more here.
- Millennials delaying marriage is great for the multifamily industry. A recent study by CBRE shows that later marriages are keeping younger adults in rental housing longer. Here’s some perspective for you. “In 2018, the average age was 29.8 years for men and 27.8 for women. By comparison, CBRE notes, from 1960 to 2018, the average rose seven years for both men and women. Over the past 10 years alone, the average climbed by two years.”
- Co-living provider, Common is expanding into four cities including Philadelphia, Atlanta, Pittsburgh, and San Diego. Co-living is a newer concept in the multifamily industry. Common is targeting young singles and childless renters who want to live in an urban setting. Each renter gets a private bedroom and bathroom and shares a living room and kitchen.
RETAIL & OFFICE NEWS
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- What co-concept is next? Developers are shifting the traditional context of retail shopping centers by adding co-working spaces. With more folks working remotely and retail struggling, co-working in a shopping center seems like a good idea. Brick-and-mortar coffee shops and restaurants can take full advantage of the added foot traffic.
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- For the first time ever, e-commerce has officially surpassed brick-and-mortar retail sales. The Commerce Department reported a razor-thin edge for online sales in February. It’ll be interesting to see how this trends over the following months.
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- If you build it, they will come. Crystal City is reaping the rewards of the Amazon HQ announcement. Four out of 10 commercial transactions in Northern Virginia for Q1 were in Crystal City. Most of the recent leasing activity includes renewals and relocations.
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