Peak chaser, world explorer, skyline creator. Living life one slope, trip, and development at a time

The multifamily market is seeing some intriguing shifts as we dive into the latest U.S. Census data. While permitting momentum varies across major cities, four key markets have found common ground in their multifamily permit volumes, indicating some intriguing future trends for developers and investors. Here’s a closer look at the numbers and what they mean for the landscape of multifamily real estate development in 2025. A Convergence of Four Key Markets In the year ending April 2025, multifamily permitting levels across Austin, Orlando, Phoenix, and Atlanta aligned in a tight range between 11,400 and 12,300 units. This convergence is notable for its consistency across diverse regions, but the trends within these markets tell a deeper story: Austin: The Texan tech hub saw the steepest drop, shedding nearly 8,000 units YoY. Despite its reputation as a booming tech and real estate hotspot, this decline signals a cooling off, potentially influenced by shifting tech industry dynamics or h...

When people think about hot real estate markets, Burlington, Vermont probably isn’t the first place that comes to mind. And that’s exactly why I’m so bullish on it. Quietly and consistently, Burlington and its surrounding towns are showing all the signs of a breakout market—and most developers are still asleep at the wheel. We’re not. We’re launching two new multifamily projects and one build-to-sell (BTS) community in the Burlington region. Here’s why we’re putting serious capital behind this area—and why I think more investors should take a closer look. Demand Is Strong. Supply Isn’t. The median home price in Burlington hit $555,000 this spring—up over 11% year-over-year. That’s not just appreciation; it’s a sign of limited inventory and serious buyer pressure. In April 2025 alone, the number of homes sold jumped by 185%, even as inventory only crept up by 22%. That’s a demand gap most developers would kill for. Burlington Has a Real Economy This isn’t a boomtown built on hype. Burli...

Olympics. Streaming. Studio space. All roads are pointing to Inglewood. Los Angeles is betting big on its media roots—and real estate is once again the foundation. Billionaire developer and LA Rams owner Stan Kroenke is breaking ground on Hollywood Park Studios, a 12-acre production campus that fuses Olympic prestige with long-term entertainment upside, all steps from SoFi Stadium. Part of the massive 300-acre Hollywood Park development, the studio project isn’t just about adding soundstages—it’s about anchoring an entire media, tech, and sports district in the heart of Inglewood. For developers and investors watching LA’s next act, this isn’t just a story about studios. It’s a story about transformation. A Studio Designed for Global Spotlight Here’s what’s coming to the SoFi Stadium campus: Five 18,000-square-foot soundstages An 80,000-square-foot office building for production and postproduction A mill facility for set construction and prop work Dedicated trailer and equipment infras...

We’ve all lived through it—2021 through 2023 were, in many ways, the glory days of multifamily development. Capital was flowing, interest rates were low, the remote work wave was at full strength, and cap rates compressed fast enough to justify just about anything. Banks were bullish. Tariffs were a distant memory. Even skyrocketing construction costs couldn’t stop deals from penciling because demand was simply that strong. For a while, it felt like every site was a winner—especially in the “cool” markets. Say no to a deal in Austin, Nashville, or Charleston, and you risked being labeled out of touch. The pipeline was overflowing. But as is often the case in real estate, when too many players rush into the same game, overbuilding isn’t far behind. Just take a look at new multifamily construction levels compared to U.S. population growth. Two things are immediately clear: We’re still building at rates comparable to the late 1990s and early 2000s—activity remains elevated. During the Glo...