Realty development slowdown on horizon: Apartment boom slows amid rising interest rates and building costs.

Autor:	Bullard, Stan (AUTHOR)
Předmět:	INTEREST rates, CONSTRUCTION cost estimates, REAL property, HOUSING, TAX increment financing, PROJECT finance
Zdroj:	Crain's Cleveland Business. 2/26/2024, Vol. 45 Issue 8, p18-18. 1p.
Abstrakt:	The article discusses a slowdown in real estate development in Cleveland due to rising interest rates and building costs. The market-rate apartment boom is slowing down, with developers focusing on finishing existing projects and seeking financing for new proposals. The article highlights the challenges developers face in covering debt service and the need for creative solutions such as tax credits and abatements to lower costs. The article also mentions the difficulties faced by developers of color who lack generational wealth and emphasizes the need for more equity and investor funds. Overall, the article provides insights into the current state of real estate development in Cleveland and the various challenges faced by developers. [Extracted from the article]
Databáze:	Regional Business News
Externí odkaz:	Zobrazit plný text záznamu Plný text ve formátu HTML
Nepřihlášeným uživatelům se plný text nezobrazuje	K zobrazení výsledku je třeba se přihlásit.