Along the same lines as ADUs, some developers are adding density by tearing down existing structures and creating small-lot subdivisions, Sawyer said. Lots that previously had single-family homes could be rebuilt with four condos, for example.
new remote-work communities, whether
Sawyer said she’s already seeing growth in inland California thanks to work-from-home policies that allowed employees to do their jobs remotely instead of being tied to the metro where their office was located. Workers benefit by getting more home for their money, and the cities may see an eased burden on infrastructure with fewer commuters.
response that impacted real estate inves-
Though Arixa is willing to follow its developers if they decide to chase the boom to
those are suburbs or smaller towns, Sawyer said they avoid “second-home areas,” which tend to have more volatile markets.
ABOUT THE AUTHOR
Beyond shelter-in-place orders that led to demographic shifts, another pandemic tors was the eviction moratorium. Sawyer had several tenants unable to pay rent, with no recourse option to mitigate. The moratorium also caused many multifamily investors to pump the brakes on new purchases. “Why buy when tenants aren’t paying rent?” she asked. Still, she expects deal flow to pick up
KATIE BEAN Katie Bean is a former newspaper and magazine editor who loves telling the
stories of businesses and great leaders. She is based in Kansas City.
again later this year when renters can no longer defer payments. ∞
SUMMER 2021
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