Plentiful housing for entry-level and mid-market professionals is still lacking, says Polaris Pacific business development VP Gina Reidinger (here with brother Kirk, co-owner of Newport Beach accounting firm Stephens, Reidinger & Beller, LLP). Take Seattle, for example: the tech industry is exploding there, and yet not a lot of affordable housing inventory. Gina adds that one of the biggest challenges for developers and their financial partners is construction costs, so it’s difficult to get some of these deals to materialize. Trends Gina sees include smart homes featuring not-yet-available amenities that can be wired into the design of the development for future use. Locally, she’s also seeing Oakland starting to truly evolve; nationally, Millennials and Gen Xers continue to prefer living/working/playing in the urban core. Boomers like this set-up too, but with larger floor plates and awesome amenities. Hoteliers are paying attention, with new and innovative brands that are appealing specifically to different age groups. Gina says Polaris Pacific is always looking to partner and bring partnerships to the table; having a land division gives them an extra edge against competitors. For more information on our Bisnow partner, click here.
This content originally appeared in Bisnow.