Terri Clifton shares insight with CREW Network with a look into the Houston multifamily industry one year post Harvey.
Terri Clifton, President of Better World Properties LLC, speaks at the August CREW
Network luncheon at The Junior League of Houston.
“The Houston multifamily industry continues to show signs of improvement one year post Hurricane Harvey,” said Terri Clifton, President of Better World Properties LLC at the August Crew Network luncheon at the Junior League in Houston. “Absorption and occupancy are both near historical averages.”
Investment Dollars Coming In
“We see investment dollars continuing to come in to the Houston market”, shared Terri Clifton. “Since the storm, some lenders do want borrowers to have a more skin in the game. With the continued improvement in the economy and job creation, and Houston being the fourth largest metropolitan city in the nation, the demand in Houston for multi-family housing continues to be strong. Prudent investors know this and are seeking value-add opportunities. We also see new construction keeping up with demand with projects in the development pipeline.
Insurance underwriters are always a bit skittish after a natural disaster. They are relieved to see the Houston multifamily industry is recovering quite nicely. FEMA dollars arrived and insurance money has been hard at work at those properties that were affected by the storm, fueling a mini-boom in construction trades and support services,” said Terri.
$2.5 Billion in Infrastructure Support
According to the Houston Chronicle, one year to the day after Hurricane Harvey paid a visit to Houston, Harris County voters overwhelmingly approved a $2.5 billion flood infrastructure bond designed to protect the area in future storms. This proactive measure fuels further strength in the Houston multifamily investment community.
CREW Network was founded in 1989 to bring together women involved in the many aspects of commercial real estate to exchange information, develop business contacts and help each other succeed professionally. The Houston CREW Network chapter meets monthly to exchange ideas, network and expand business development.
CREW Network is the premier business networking organization dedicated to transforming the commercial real estate industry by advancing women globally. The organization provides support to a 10,000+ member network worldwide through business development, leadership development, industry research and career outreach.
Considering Investing In Multifamily Apartments In Texas?
We believe that ethical investing in multifamily real estate is one of the paths towards not only building a better world within communities, but also serving as a solid financial investment. If you’re ready to begin your journey towards being a multifamily owner, or if you wish to increase ROI on your existing apartment portfolio, find hidden value and improve your multifamily property management services, please give us a call.
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