Market Rate, Affordable & Workforce Trends Impacting The Region.
Tuesday, February 19, 2019
Marina del Rey Marriott
4100 Admiralty Way
Marina Del Rey, CA 90292
According to CBRE, the Los Angeles market currently has 12,000 new multifamily units in the pipeline. With investment up 36% year-over-year and cap rates hitting historical lows of 4%, there is a lot of activity in the region.
However, rents continue to rise, and many argue the region has entered an affordability crisis. With residents whose household incomes are in the 25th to the 75th percentile spending 58% of their income on rent, continued rent increases are expected to make a significant impact on the market.
With financing barriers and little to no return in the affordable space, market rate development continues to attract the majority of the region’s investment and activity.
The region’s population is rapidly growing, and demand for workforce and affordable housing will follow in suit.
How are developers making decisions as they respond to market changes, and what can you expect? Join us as we navigate the region’s multifamily space, examine its affordable and workforce housing, and strategize for its future.