“Construction costs have moderated, but apartment development remains challenging,” Multifamily Dive

Alliance Residential Chairman and CEO Jay Hiemenz was featured in a Multifamily Dive article examining how multifamily developers are navigating a construction recovery nearly five years after the industry slowdown began.

Hiemenz noted that multifamily and single-family housing production has been down since 2022, when surging interest rates drove up the cost of capital and limited investor demand. While contractor competition has increased and materials prices have moderated, those trends have not fully translated into significantly lower construction costs across the industry.

You may access the full article published in Multifamily Dive here.