CONTENTS • Q1 2017 • VOL. 22, NO. 1
STRENGTH IN NUMBERS
Millennials aren’t the only renters in town, but the
sheer size of this group makes them as significant
to the multifamily market as construction growth
and employment rates. They’re staying in college
longer, delaying marriage, having kids later and,
perhaps most important, putting off buying their
first homes. That’s a big reason why the multifamily
rental market keeps going and going and is
nowhere close to gone.
On the Right Track
Construction on the nation’s
first true high-speed rail line
and largest public infrastructure
development is underway, nearly
nine years after California voters
approved the $64 billion project
to connect Los Angeles and San
Francisco. Appraising and acquiring the 3,800 acres necessary to
complete the full rail line could
be an appraiser’s dream job —
or greatest challenge.
The valuation of ground leases
presents appraisers with significant
opportunities and challenges.
Their expertise can provide
input for the initial lease, for the
later lease renegotiation and for
the resolution of disagreements
through arbitration. But this
niche market is not always well
understood, and appraisers may
discover a dearth of quality data.
ON THE COVER:
The Solstice, a multifamily
project in Eugene, Oregon,
by 2form Architecture.
Photo by Jeff Amram.