Across the Mid-Atlantic, the multifamily market continues to expand, but the money game is shifting for new construction projects. Because of these shifts, the region’s developers must have new strategies to successfully finance their projects and maximize profits.
The Financing Shift
From 2010 to 2015, banks were the largest source of construction financing, typically providing loans for near-total construction costs at a relatively cheap rate of 2.50% on top of LIBOR. No