A tipping point for apartment development

TippingBy Mike Sunnucks | Phoenix Business Journal

The current wave of new apartments may have crested but there are so many units already in the pipeline that high tide of multifamily construction will continue for some time.

Brian Smuckler, senior vice president and multifamily real estate expert with CBRE Group Inc., said if apartment developers don’t already have plans in place for new apartments they may have a harder time getting financing and competing with new complexes already in the works.

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