Co-living and multifamily residences are here to stay despite short-term concerns about the need for social distancing. Even during times of COVID-19 related building restrictions, co-living and multifamily assets is still an increasingly hot topic in California.
Developers are turning to building multifamily residential units during our current housing shortage peak. Co-living uniquely offers a supply of upscale housing at an attractive price point. Modular build-outs, people living in smaller units, co-living and multifamily developments that have large shared common areas and decked-out amenities are the future features of California housing.
Ultimately, the primary incentive for co-living has always been creating affordable housing, and such demand has only been increasing. So, it’s crucial to be mindful that social distancing is only a concern in the short term. The lack of apartment and multifamily residential construction will need to be addressed quickly, and competition for top-performing talent to markedly meet the surge in demand is right around the corner.
Increasing Demands For Qualified Talent
Lenders are also actively looking at co-living. As the pandemic continues to uproot the economy and act as a torrent of financial undoing, investors with deep pockets are considering co-living as a long-term investment strategy. What’s more, for those looking to invest and build, using modular build-outs has dropped construction time significantly.
Forward-thinking talent is essential to meeting these new project demands head-on. However, due to the unemployment rate skyrocketing, the market has become saturated with unqualified professionals. Varying regulatory requirements, new and emerging sectors, and rising construction costs are just some of the challenges a residential development enterprise must overcome. Now, it has also become difficult to find a qualified candidate, which is why more and more companies are turning to proven real estate recruiters.
To weed out unskilled applicants, you need an executive search firm with a comprehensive understanding of the real estate industry and trends, and an efficient recruiting process to find the multifamily residential talent necessary for long-term growth.
You’re dedicated to your practice, that makes both of us. Our recruiters have the skills, knowledge, and resources needed to successfully place candidates across the vertical, from single and multifamily homes to senior living complexes and affordable housing. From your VP in Business Development to your Design Center Manager to your Scheduling Manager, we help build your company with top-performing talent.
Find the most qualified real estate executive candidates for hire for your critical roles alongside The Newport Group. Our Residential Development Recruitment team works closely with you while implementing a hiring strategy that fits your needs. Using our time-saving and customizable search program, we consider everything vital to the success of your residential development enterprise.
Knowing Is The Whole Battle
The Newport Group is a leading executive recruiting firm with expertise in numerous industry verticals. We deploy proprietary data sets and meticulous processes to identify, recruit, place, and help retain blue-chip talent at leading companies nationwide. Turn the challenges ahead into competitive advantages alongside our help. Roles we’ve placed include CFO, VP of Construction, VP of Operations, Chief Estimator, to name a few.
Our team of recruiters is active in all sectors of real estate development, including production homebuilding, multifamily, commercial, retail, and land. Construction verticals include commercial, civil, utility, pipeline, infrastructure, as well as environmental consulting and remediation. Additional expertise covers IT sectors, including healthcare IT. Ever strategic in our approach, we present talent that aligns with our clients’ strategic objectives.
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