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Perhaps no real estate development firm in southeastern Wisconsin is busier right now with development projects in the metro Milwaukee area than Mandel Group Inc.
North End Phase III
The firm's immediate pipeline of projects that are either under construction or could soon be under construction is filled with plans for three apartment development projects in and near downtown Milwaukee and four apartment development projects in the suburbs. The firm's list of planned downtown developments includes a three-phase addition to its North End development.
Mandel Group, a multi-family housing development firm, has a long track record in the area and studies the market carefully. The firm is expressing serious confidence in the metro area's apartment market with several development projects in the city and in the suburbs.
We believe this is the right time (to build apartment developments so they hit the market) before the cycle ends, said Mandel Group President Barry Mandel.
North Avenue, apartments with Adventure Rock Climbing Gym
Many empty nester members of the aging baby boomer generation are downsizing from single family homes to apartments, while at the same time the millennial generation, which is even larger than the baby boomer generation, is moving into the household formation age and in many cases its members are moving into apartments (as opposed to single family homes or condos) for lifestyle and financial reasons, he said.
The growing demand for apartments comes after years of little apartment development in the U.S., leading to stagnant supply levels. Multi-family housing development in the U.S. was dominated by condos from 2003-'07 as buyers, developers and banks responded to federal government policy that strongly encouraged homeownership and relaxed regulation of mortgage standards, which contributed to the subprime mortgage crisis, Monnat said.
Originally posted here:
Mandel Group's plate overflows with apartment projects
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