New multifamily construction starts have dropped across Texas from 2022 at a sizable margin. With fewer units coming online and the migration to Texas showing no signs of slowing, we expect to see this supply-demand imbalance materialize in 2025.
...Because of declining occupancy, and rental rates, BridgeView founder and President Steve May said that multifamily starts are down across all Texas markets. But because the rates of inmigration to the state remain high, May said there is still an appetite for housing that is unlikely to be satisfied at the single-family level because of high interest rates, as well as low supply. That segment of the market, he said, will turn to multifamily product as a viable housing solution.
...On August 31st, 2023, BV Capital’s New Braunfels Land investors realized a 34% return over a 20-month hold period. This accomplishment signifies the first of several land offerings in Texas facilitated by BV Capital to progress from land purchase to recapitalization and sale into the next deal phase, development.
...BV Capital and its investors have funded the acquisition and development of nearly 30 acres of prime land for affiliate Bridgeview Multifamily LLC to build class A apartment projects in the North Texas cities of Arlington and Denton.
“Having side-by-side developments makes good economical sense. It will create economies of scale for our general contractor, Bridgeview Construction.” says Rob Anderson, president of BV Capital.
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