Mission Impossible: Multifamily Investment & Development Outlook in the SF Bay Area and across Northern California
We are in unprecedented times. The state of the market 12 months ago seems like a bygone era. Just a short while ago, the biggest concern was rent control. That seems like a million years ago now. In 2020, we are faced with a global pandemic, social unrest and massive unemployment. And what’s more, California’s plans to reopen have been stymied for the time being. Developers are itching to get their pipelines restarted, while investors sit on the sidelines with piles of cash waiting to see how things will play out. Further complicating matters is the general anti-development sentiment that continues in Northern California as well as the threat of Prop 21 this November. How are these factors impacting the apartment industry across Northern California?
- How have rental rates, rent payments and occupancy held up since March?
- How is unemployment affecting the outlook for the apartment industry across Northern California?
- Which cities across the region are suddenly more attractive in light of the pandemic?
- What is the state of multifamily investment and development activity and pipeline?
- How has the current situation affected construction costs, availability and timelines?
- In what ways has the pandemic created new opportunities for distressed deals and projects?
- How likely is Proposition 21 to pass this November and what would it mean to the industry?
- Ian Mason, Principal, Seiler
- Ziv Cohen, Chief Investment Officer, Resmark
- Oz Erickson, Chairman, Emerald Fund
- Meg Spriggs, Managing Director – Multifamily, Shorenstein Properties
- Greg Vilkin, CEO, Universal Paragon
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