Multifamily is the perennial darling of the CRE industry. But a deeper dive shows a major gap in specific markets between supply and demand.
There’s a downside to the economic upturn, and it comes in a rather odd space–the ever-flush-and-fertile multifamily market. The rush by developers to cash in on upper-scale housing has contributed to a national dearth of product for those who need it most, namely the candidates for affordable and workforce housing. And, of course, a shifting regulatory environment adds fuel to the fire.
In an exclusive interview with GlobeSt.com, Melissa Marcolini-Quinn, senior vice president/managing director of NorthMarq Capital’s Orlando office, provides the background to the current state of affairs and outlines some of the groundwork being laid by the GSEs to correct the critical imbalance.