Apartment Construction Starts to Lie On the Horizon

 The construction and building activity in the Southeast is been picking up in the last year and is expected to keep this trend for the next year. While the panelists varied in the estimates the increase results in construction, majority will be the number of new construction starts in 2012 will likely top this year’s total by 50 percent. “You’ve now got development companies that have ramped back up, so there are people out there in all the markets trying to get product,” said Greg Bonifield, a partner at Arlington, Va.-based Woodfield Investments. Overall analysis determine that South Florida and Carolinas are the most attractive places to invest in United States. The increase in construction will help boost multifamily construction, and there is a tremendous bidding pressure to deliver assets in time. “Apartments are the asset class where buyers are back. So we’re seeing sites that formerly would have gone to condos that would’ve gone to office that would’ve gone to retail now coming to us.”