Got Capital? If So, Multifamily Party Roars On

Daily Herald



For the next couple of years, suburban Chicago multifamily development will be a tale of the haves and have nots – developers with access to capital versus those without. As Christopher Coleman, vice president of development for Taylor Johnson client Wingspan Development Group, explains in a byline we secured for him in the Daily Herald, although Chicago’s suburbs have added almost 27,000 new apartment units since 2013, only 406 units are planned so far for 2024 due to rising interest rates and a pullback by banks on construction loans. One way forward for developers to capitalize on the strong demand for suburban rentals – the suburban Chicago apartment occupancy rate is 95% is to launch a private fund, but according to Coleman, that’s not the only thing it takes to get investors on board to kickstart a project. To learn more about how Wingspan has been able to gain access to alternative financing sources during a time when banks are limiting some developers' access to cash, click here.



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