John Darby, President and CEO, The Beach Company, Charleston, SC
In a recent interview with Multi-Housing News (MHN), The Beach Company’s CEO John Darby discussed the unique and inevitable challenges that go hand-in-hand with breaking ground in Southeast markets. MHN, a leading source providing the latest news to top level executives in the multi-housing industry, was interested in gaining insight into The Beach Company’s process before choosing to do business in a new market in the Southeast.
Darby asks three questions before breaking ground:
- Is the project viable in this location?
- Is the local government open to dense projects?
- Is someone willing to invest?
When it comes to the viability of location, Darby emphasized the importance of being selective due to the competitive nature of most markets. Renters today have more options than ever before. Before breaking ground in a new or unfamiliar market, Darby notes that it is imperative to get a pulse on projects underway in the city because while some places may welcome dense development, others impose timely and costly measures to thwart the process. Finally, recruiting the right investors is crucial. Investors must want to be invested in the city – they must be interested in creating a presence beyond a building.
Read the full interview here: www.multihousingnews.com/post/multifamily-forecast-breaking-ground-in-southeast-markets-in-2017/