This is an exceptional time to be a builder in the multifamily residential market. After years of restrained construction, the industry’ssupply and demand are nearing a balance. As jobs are being created and the economy recovers, positive household formation is also returning. With its sustainable job growth, Coastal Southern California is one of the nation’s many regional markets that is stabilizing and in turn, this region is able to absorb new construction.
Given the current high amenity luxury rental target market, the client was able to modify and upscale the amenity package to more trendy needs of younger, more independent residents—such as high-tech, cloud-based exercise bikes—while also updating the colors, quality and finish materials of the unit interiors for more trendy multifaceted lifestyles.
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