AMLI Business Strategy Revealed

I met up with VP of Development at AMLI Marcy Phillips at the Bisnow Multifamily Summit. AMLI is one of the largest developers of multifamily properties in the country. Marcy explained their building strategy is to find the very best demand locations and build high quality, luxury properties that command the highest rent rates. Locations like downtown Austin have been very successful for them. One of their business strategies is to build and hold for 7 to 10 years, before selling. This makes sense, as after year 10 properties start need a bit higher maintenance overhead and fix-up. Austin, she noted has had a run-up on construction and labor costs in the last year by 15% to 20% or more, compared to Dallas and other Texas cities. Austin’s occupancy rates are the best in Texas but construction costs have increased substantially. Currently, AMLI has seven locations in Austin. What is your multifamily business strategy?

Austin Multi-Family Vacancy Rates Holding Steady

Great weather and festivals abound all make Austin a steady awesome place to live for those fortunate to call themselves Austinites and that includes commercial real estate. The Austin skyline has had steady additions of scaffolding and cranes. Multi-family vacancy rates are holding steady. All is holding steady according The GlobeSt.’s post of Hendricks-Berkadia’s Q3 multifamily report.