Increased Demand for Housing
According to We Are Apartments, this problem isn’t going away soon: By 2030, America will need 4.6 million new apartment homes just to meet demand. A significant shift in demographic trends is driving a fundamental supply and demand imbalance:
Nearly 80 million millennials will create up to 25 million new households over the next decade and millions from Generation Z are seeking out their first apartments.
Millions of Baby Boomers are downsizing and moving to more walkable neighborhoods.
Over 25 percent of apartment households are headed by someone who was born outside the U.S. This number will continue going up, as immigrants are expected to account for more than half of all new population growth between now and 2030.
To meet the increased demand for housing, we need to build between 300,000 and 400,000 new units annually. But building more housing is not enough to solve the problem. We need to build a wider range of housing that reasonably meets the financial needs of more people.
So how do we get there?
CP2 exists to influence the industry to accomplish its housing goals. We specialize in creating the following:
- Development Team Assembly
- Architectural Design Review
- Marketing Plan Proposal
- Leasing/Property Management Plan
- Project Budget
- Comprehensive Project Plan
- Low Income Housing Tax Credit Application
- Preliminary State Tax Credit Scoring
- Project Financing
- Affordable Rents Ordinance (ARO) consulting
- Develop project and program budgets
- Create, implement project marketing plan
- Provide architectural design advice to ensure concept alignment
- Real estate project management (single-family to commercial) from concept to completion
- Assemble, manage project implementation team
- Manage real estate development partnerships