Let me begin by saying, on behalf of all of us at Multifamily Design+Construction and our parent company, SGC Horizon, that I wish you and your family, friends, and coworkers well amid the turmoil of this terrible pandemic.
Turning to more mundane matters, multifamily seems to be one sector in the construction industry that’s holding its own. The AIA’s Architectural Billing Index for August showed multifamily at a three-month rolling index of 47.5—not great (a score above 50 indicates positive growth), but well above mixed-practice (44.0), institutional (39.5), and commercial/industrial (35.4). AIA Chief Economist Kermit Baker, PhD, Hon. AIA, ventured so far as to say that multifamily “came close to seeing billings growth for July” (the last month measured).
Some positives for multifamily housing
Baker’s opinion was confirmed by Brad Hunter, former Managing Director at RCLCO (now Principal at Hunter Housing Economics), in a segment (https://bit.ly/3lVZ1QM) of “The Weekly” (horizontv.bdcnetwork.com), our new streaming service (Thursdays, 1pm Eastern).
Citing RCLCO’s Mid-Year 2020 Sentiment Survey, Hunter said most analysts believed multifamily rental and active-adult housing had “already hit bottom,” although independent living and assisted living/memory care were “still in full downturn mode.”
In speaking to many multifamily architects and contractors over the summer I came away with the feeling that, while their businesses had suffered a huge hit in March, April, and early May, conditions had started to brighten in late May and June—not gangbusters, to be sure, but steady improvement that continued into the Labor Day weekend.
Student housing in turmoil
I interviewed Mitch Dalton, Chief Director of Design at Core Spaces, in early July for “The Weekly” (https://bit.ly/3i6zzFB) about his company’s survey of 2,500 of its tenants—students who live in Core Spaces’ off-campus housing. Ninety percent said they wanted to come back to campus. Most (73%) said they would return to their off-campus apartments even if their institutions offered only online instruction. Most (60%) said they were dissatisfied with remote learning. Even so, four in five (80%) said they would rather study remotely in their college apartments than at home.
A month after my chat with Dalton, many of the nation’s more than 4,000 colleges and universities were still struggling with whether to open for in-person instruction, go fully remote, or try some sort of hybrid scheme. Most eventually went 100% online, but some, notably the University of North Carolina at Chapel Hill, opened up the campus, only to have to shut down a week later when clusters of Tar Heels started testing positive for the virus. What a mess. Let’s hope for a proven vaccine soon. Meanwhile, please keep safe, wear your mask (and PPE on the job site), wash your hands, and maintain a safe distance.
Related Stories
Multifamily Housing | Jan 28, 2019
Luxury townhomes rise on the site of a former office park in Irvine, Calif.
KTGY Architecture + Planning designed the project.
Multifamily Housing | Jan 25, 2019
The country's most expensive home sells for $238 million
The unit comprises four stories at 220 Central Park South in Manhattan.
Multifamily Housing | Jan 22, 2019
Caoba is the first tower to open at Miami Worldcenter
Caoba was co-developed by CIM Group and Falcone Group.
Multifamily Housing | Jan 16, 2019
Micro-units: Good for the city? Good for citizens?
Thinking more holistically about housing typologies and zoning will improve our public realm.
Multifamily Housing | Jan 7, 2019
364-unit multifamily development planned near Lake Lewisville in Texas
BGO Architects is designing the project.
Multifamily Housing | Dec 18, 2018
Redesigning the intergenerational village: Innovative solutions for communities and homes of the future
Social sustainability has become a central concern in terms of its effect that spans generations.
Multifamily Housing | Dec 11, 2018
62-story luxury rental tower provides 40,000 sf of indoor and outdoor amenities in Manhattan
CetraRuddy designed the building.
Multifamily Housing | Dec 6, 2018
JCJ Architecture to design new housing facility for Barrier Free Living
The non-profit’s new facility will provide housing and support services for survivors of domestic violence with disabilities.
Sponsored | Multifamily Housing | Dec 5, 2018
Apartment community connects friends and neighbors through indoor-outdoor amenities
Hubbard Place is a 44-story, 450-unit apartment community in Chicago’s River North neighborhood, an established tech hub in the downtown area. The building has an entire floor dedicated to communal and entertainment amenities.