Marcus & Millichap/IPA Multifamily Forum: Construction, Development, & Value in 2015 Panel Recap

May 22, 2015
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Marcus & Millichap 2015 Panel

Annual Marcus & Millichap/IPA Multifamily Forum of Washington DC took place on May 7, 2015 at the Kellogg Conference Center at Gallaudet University. The event attracted over 300 multifamily industry executives for a day full of lively industry updates, project case studies, and insight from some of the region’s most active multifamily developers, owners, architects, and general contractors. Johnny Moseley, President of Moseley Construction Group, represented DC’s multifamily general contracting perspective on the Construction, Development and Value in 2015 panel. Alongside Johnny was a diverse panel full of highly esteemed multifamily industry veterans, with representatives from BKV Group, a renowned architecture, design and engineering firm; Mill Creek Residential Trust, owner, developer and operator of Class A properties throughout the United States; Ditto Residential, a DC local high-end boutique multifamily developer; RCP Development Company, a multifamily institutional development and investment advising firm; and Jefferson Apartment Group, owner of a large multifamily portfolio on the East Coast. With such an strong mix of perspectives, the conversation was bound to be a lively discussion on the Washington DC residential market.

The discussion began by looking back to the beginning of the recent urban apartment boom, circa 2013. While on one hand some are concerned about a potential multifamily bubble, the panel agreed that despite the booming pipeline, demand and absorption are high, and vacancy rates are low, particularly for the type of Class A product that this panel specializes in. Throughout the hour discussion, the panel touched upon a variety of topics, including:

  • Established markets vs. up-and-coming submarkets
  • Condo conversions as an exit strategy
  • Construction costs
  • Value creation with LEED
  • Creating a sense of place and identity for each neighborhood
  • Community relations in the planning phase
  • identifying tenant demographics and designing to their appeal
  • Housing trends: micro units and group housing

The conversation concluded by each panelist sharing their biggest lessons learned about the multifamily business; “This is a people business,” Johnny Moseley said, “We aim to surround ourselves with the best and brightest people who share our company values, core focus, and come to work each day with The Moseley Differencemindset.”

More information about the event can be found here