While UIRC will pursue Multi-Family opportunistically, our primary multifamily focus is our Attainable Housing Acquisition & Development Platform that develops multi-family and mixed-used properties in severely supply constrained markets across the United States.
Since the financial crisis, the country has seen substantial, if not amazing growth across nearly every facet of the multifamily housing sector. This has been driven by many factors including:
In most of the major markets such as Seattle, Chicago, New York, and San Francisco, both the supply of units and rental rates have grown by leaps and bounds. As such, the market for apartments in these and many other markets may now be much more vulnerable to economic and other forms of shock/disruption.
UIRC’s identified markets are supply constrained, with outsized demand, where job and population growth has outstripped the supply of attainable housing. UIRC’s strategy is to discover broad attainable housing acquisition & development opportunities in markets that have been overlooked and therefore provide risk mitigation. We look for structural inefficiencies and address them.
UIRC’s study has revealed a subset of multi-family demand that has been largely ignored across a surprisingly large number of markets. Worse for prospective tenants is that in a surprising number of these markets, these conditions have persisted so long that the demand for attainable housing has reached or is approaching crisis levels.
With our plans in developing multi-family housing, UIRC’s mission is to provide affordable homes for those in need, which will simultaneously support the surrounding communities with job opportunities and economic growth. Contact UIRC today to learn more about our Attainable Housing Acquisition & Development Platform.