Apr 02, 2019 - 0 Comments - Multifamily Property -

Video: Bainbridge EVP & COO Discusses Multifamily Development Opportunities

Kevin Keane, Executive Vice President and COO with the multifamily developer Bainbridge Companies, joins Michael on America’s Commercial Real Estate Show via Skype to discuss opportunities in multifamily development, construction costs, and lender sentiment.  Bainbridge develops “basically along I-95,” from Miami to New Jersey. He discusses how construction costs, particularly materials and labor, are affecting development. He notes they are putting an additional cushion of 7% into cost budgeting to cover possible overruns in this supply constrained environment, also noting that potential tariffs may have an effect. He talks about how Florida continues to outpace other markets, with Tampa, Jacksonville, and Orlando catching up to southeast Florida in terms of attractiveness for development.