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Exploring the Suburban Multifamily Market: Balancing Supply & Demand

Identifying Key Trends, Major Hotspots and Strategies to Combat Market Constraints

Michael Procopio

Michael Procopio

CEO

The Procopio Companies

Santo Dettore

Santo Dettore

Associate Vice President

Northland

Lisa Strope

Lisa Strope

Partner

TA Realty

Alex King

Alex King

Director, Acquisitions

TruAmerica Multifamily

Michael Kenary

Michael Kenary

Vice President

Redgate

Stephen Buchbinder
Moderator

Stephen Buchbinder

Esquire

SAB Law

Michael Procopio

CEO

The Procopio Companies

Michael Procopio is President & CEO of The Procopio Companies (TPC), a vertically integrated real estate development and construction firm based in Boston with a track record of over $1 billion and 5,000,000 square feet of institutional ground-up development.

Michael joined the firm in 2001, led a buyout of the third generation and became Principal in 2016, and was named CEO in 2020. Under his leadership, TPC has built a current ground-up pipeline of over 3,000 units, specializing in market-rate multifamily communities across the Northeast, the Carolinas, Florida, and Texas. Michael is known for pairing bold design instincts with disciplined execution, and for cultivating the enduring relationships — with investors, partners, and host communities — that have defined TPC’s approach across generations.

Michael holds a Bachelor of Science from Salem State University.

Under Michael’s leadership, TPC was named Family Business of the Year by Northeastern University, and Michael himself was recognized as one of Building Design + Construction’s 40 Under 40 in 2022. The firm’s projects have earned dozens of industry accolades, including PRISM Awards, ENR Best Project Awards, and NAHB Pillars of the Industry Awards.

Lisa Strope

Partner

TA Realty

Lisa Strope is a Partner with TA Realty and leads the research efforts for the firm. In this role, she works closely with senior leadership to craft the strategic house view, drive thought leadership initiatives and monitor domestic and international capital markets. She also partners with the firm’s investment and portfolio management teams to advance the firm’s analysis and forecasting across property types and regions. 

She has over 25 years of experience in real estate research, investment, and development. Prior to joining TA Realty in 2020, she spent six years at JLL. Her responsibilities included oversight of the national research platform for life sciences, healthcare and seniors housing and the New England research team. Prior to JLL, she served as a Teaching Fellow at Harvard Business School where she focused on the study of investment trends in real estate.

She holds a B.A. from Cornell University and an M.B.A. from the Stern School of Business at New York University. She is a former Board Member, CREW Boston, and an Adjunct Real Estate Faculty at Babson College.

Alex King

Director, Acquisitions

TruAmerica Multifamily

Alex King serves as the Director of Acquisitions at TruAmerica Multifamily, ranked 25 th on

NMHC’s 2023 list of largest apartment owners in the United States. TruAmerica focuses

primarily on acquiring and operating suburban garden-style and mid-rise complexes, often with

a renovation component.

Based in the firm’s Washington DC-area office, Mr. King has oversight of all Acquisitions activity

on the east coast for TruAmerica, covering nearly every major and secondary market between

Boston and Miami. During his time at TruAmerica Mr. King has led the acquisition of over 10,000

units across 34 properties totaling $2.3 billion in value, including TruAmerica’s four acquisitions

in Greater Boston since late 2020. Mr. King holds a Bachelor of Science in Finance from Bentley

University and an MBA from Georgetown’s McDonough School of Business.

Michael Kenary

Vice President

Redgate

As Vice President, Michael is responsible for sourcing, structuring, and conducting financial and feasibility analyses on various potential development and acquisition projects on behalf of Redgate, its institutional clients, and its investor clients. Michael’s knowledge spans the commercial real estate spectrum, with experience evaluating multifamily, mixed-use, office, lab, industrial, and retail product types. He brings an analytical and strategic skill set to the team, coupled with a deep understanding of the real estate market across product types. Michael has worked on many notable developments in the Boston area including Addison, a 230-unit transit-oriented, mid-rise multifamily building, Ryder, a fully-amenitized 200-unit multifamily property, 500 Ocean, a 305-unit, mixed-use lifestyle residential building with 7,000 SF of restaurant space, and Bedford Labs, a 288,000 SF office to life science conversion that leased in its entirety to Sarepta Therapeutics. Michael received his MBA from the University of Chicago and his Bachelor of Arts from Dartmouth College.

Stephen Buchbinder

Moderator

SAB Law

Stephen J. Buchbinder is a land use, zoning, and commercial real estate attorney at Schlesinger and Buchbinder, LLP. Throughout his career spanning over four decades, he has assisted clients with mixed-use, multi-family, and commercial real estate developments, permitting for the restaurant and hospitality industry, and approvals for cannabis facilities. He also has handled the acquisition, sale, financing, and leasing of properties for retail, office, and multi-family use.

Admitted to practice in the Commonwealth of Massachusetts, Mr. Buchbinder is also admitted to practice before the United States Supreme Court, the United States Court of Appeals, and the United States District Court for the District of Massachusetts.

Mr. Buchbinder’s commercial real estate clients include Mark Development, LLC, Northland, Criterion Development Partners, Toll Brothers, Sunrise Senior Living, the Russian School of Mathematics, Concord Academy, the Carroll School, the Fay School, Brae Burn Country Club, and the Village Bank. In the restaurant and hospitality industry, Mr. Buchbinder has successfully obtained zoning approvals for The Capital Grille, Panera Bread, O’Hara’s, The Local, the Biltmore Bar and Grille, Peet’s Coffee, Bill’s Pizzeria, and the Village Café, among many others. Mr. Buchbinder has also assisted his cannabis clients in the City of Newton and the towns of Natick, Sturbridge, Warren, and Provincetown.

Mr. Buchbinder is an avid tennis player, served as Chairman of the Newton Housing Authority for 15 years, coached Little League and youth basketball, and is a certified high school basketball official.

MBTA Communities Update: Impact of Future Developments

Deep-Dive Discussion on Transit-Oriented Development

Eric Shupin

Eric Shupin

Chief of Policy

Executive Office of Housing & Livable Communities (EOHLC)

Damien Chaviano

Damien Chaviano

Principal

MARK Development

Sandhya Iyer

Sandhya Iyer

Director, Economic Development

Town of Lexington

Greg Sampson
Moderator

Greg Sampson

Partner

Sullivan & Worcester

Eric Shupin

Chief of Policy

Executive Office of Housing & Livable Communities (EOHLC)

As the Chief of Policy at the Executive Office of Housing and Livable Communities (EOHLC), I lead the development and implementation of the state's vision and policy agenda for housing and community development. I bring broad perspectives and experiences to the EOHLC team, having worked in the nonprofit and public sectors, and having earned a J.D. from The George Washington University Law School.

Prior to joining EOHLC, I was the Director of Public Policy at Citizens' Housing and Planning Association (CHAPA), a statewide nonprofit organization that advocates for affordable housing and community development. In this role, I directed and implemented CHAPA's federal and state policy and research agendas, advocated and communicated with legislators and public officials, drafted and analyzed legislation and budget priorities, and engaged and mobilized CHAPA's 150 organizational members.

Damien Chaviano

Principal

MARK Development

Damien Chaviano is a real estate professional with strengths in all aspects of real estate financing, management and development. Damien marries a vision for outstanding placemaking with an understanding of how to permit, finance and market projects. He has applied this skill set to projects ranging from free standing single use buildings to large mixed-use projects in urban and suburban communities.

At MARK Development (MD), Damien is involved in all facets of the development process, including leading roles in permitting, project design and marketing. He has direct responsibility for the capital structuring and deal underwriting of the company’s mixed-use projects. Since joining MD, Damien has helped source a pipeline of 2.0+ million square feet of development, with an estimated total project cost of $1.0 Billion. To capitalize the portfolio, Damien has identified strategic partnerships with both high net worth investors and institutional capital sources with a long term “generational” investment horizon.

Before joining MD, Damien was part of the Samuels & Associates team responsible for bringing several notable projects to the Fenway and Allston neighborhoods in downtown Boston. In addition to participating in acquisition efforts, Damien sourced structured debt (including EB 5), preferred equity and common equity for projects such as Pierce Boston, Continuum, Van Ness, Verb Hotel and Landmark Center (401 Park).

Outside of the office, Damien serves on the board of Milagros Para Ninos at Children’s Hospital and serves as a Director of O’Brien Brothers, a Burlington Vermont based development company. He is an active member of the Urban Land Institute (ULI) Urban Mixed use Product Council and volunteers with College for Every Student, a nonprofit that helps underserved youth “prepare for, gain access to and succeed in college.” Damien also sits on the real estate committee of the Newton Needham Chamber. He was recently named to Boston Business Journal’s “40 under 40.” Damien is graduate of Middlebury College and received a MSRED from MIT.

Greg Sampson

Moderator

Sullivan & Worcester

Greg is a real estate, land use, and environmental attorney with more than 20 years of experience in commercial real estate transactions, including significant experience in the planning, design, permitting and development of contaminated properties and similarly challenging sites, as well as renewable energy and infrastructure projects. His practice covers all aspects of real estate development, including acquisitions/dispositions, entitlement, and financing, including construction loans, refinancing, workouts, and tax credit supported lending. As part of this work, he regularly represents clients throughout the permitting and public approval process at the federal, state, and local levels on issues related to zoning and land use, wetlands and waterways, environmental policy acts, sustainability and climate change.

Before practicing as an attorney, Greg worked for approximately 10 years as a Project Manager/Senior Environmental Planner for BSC Group, Inc. in Boston, where he managed multi-disciplinary land development and infrastructure improvement projects for private and public sector clients throughout New England. Greg is a LEED (Leadership in Energy and Environmental Design) Accredited Professional with Neighborhood Development specialty, and was formerly certified as a Professional Wetland Scientist by the Society of Wetland Scientists. He currently serves as Chair of the City of Melrose Planning Board, and has served on the board since 2016.

Keynote: Addressing the Need For More Housing in Greater Boston

Rontear Pendleton
Keynote

Rontear Pendleton

Deputy Attorney General

Mass Gov

Rontear Pendleton

Deputy Attorney General

Mass Gov

Rontear Pendleton is currently the Deputy Attorney General at the Massachusetts Attorney General’s Office. Prior to returning to the Office Ms. Pendleton was the General Counsel at the Department of Labor Standard (DLS) where she served as the Chief Legal Advisor for the agency. Before transitioning to DLS she was the Grand Jury Director and an Assistant Attorney General for the Massachusetts Attorney General’s Office where she managed the day-to-day operations of the Special Grand Jury while investigating and prosecuting criminal matters on behalf of the Commonwealth of Massachusetts.

Why This 2024 Boston CRE Suburban Development Event Matters

What You'll Learn:

  • What difficulties have towns been facing as they work to meet the new MBTA Communities guidelines?

  • How will the MBTA -- Massachusetts Bay Transportation Authority -- Communities Act impact future developments?

  • What will the supply and demand dynamics look like now with more people reverse commuting?

  • What is next for suburban, retail in the suburbs? How are these developments looking to become more integral parts of the local communities?

  • Which suburbs and multifamily clusters are in most demand?

  • How does retail factor into the greater development and investment plans for mixed-use communities in the suburbs?

How you'll do more business:

All 12 Rapid Transit Communities adopting new zoning laws means there will be a combined capacity of over 83,000 homes in Boston suburbs. Learn how the suburbs are staying competitive with each other as well as the city of Boston through new multifamily, retail and infrastructure development. Hear from owners, developers, brokers, architects & retail tenants about all the challenges and opportunities they are facing, and what towns will be the hottest for development in 2024-2025. 

Who attends:

Investors, owners, developers, tenants, end users, brokers, lawyers, designers, contractors, architects, property managers and policymakers.

Why should you attend:

Bisnow events bring together the biggest power players in the industry to identify opportunities, build your network and expand your business. With the largest audience of commercial real estate professionals in the world, no one knows how to help your business more than us.

For questions, recommendations, comments, or press inquiries please email our Boston Event Producer, Joshua Piquion at joshua.piquion@bisnow.com. To request disability-related accommodations, please contact ally.araco@bisnow.com no later than seven business days prior to the event.

BOSTON'S 2024 SUBURBAN PROJECTS, ARTICLES & CURRENT EVENTS

Venue

Hilton Boston/Dedham Hotel
25 Allied Drive
Dedham, MA 02026

Ballroom: Fairbanks Ballroom & Assembly 


Complimentary

Get Directions

Agenda

Time Activity
12:30 PM
1:30 PM
Coffee, Breakfast & Networking
1:30 PM
1:35 PM
Opening Remarks: The Container Store
1:35 PM
1:50 PM
Keynote: Addressing the Need For Housing In Greater Boston

Deputy Attorney General, Rontear Pendleton discusses the impact the MBTA Communities Act will have on increasing the housing supply in Greater Boston and the importance of each community being involved.

1:50 PM
2:35 PM
Exploring the Suburban Multifamily Market: Balancing Supply and Demand

1) How is demand being met with rising debt and construction costs?
2) What are long-term development patterns as a result of MBTA Communities Act?

2:35 PM
2:50 PM
Networking Break
2:50 PM
3:35 PM
MBTA Communities Update: Impact of Future Developments

1) What is the expectation for migration patterns, community engagement and overall development pipeline?
2) How are towns balancing resident sentiment and government's expectations?

3:35 PM
3:50 PM
Post-Event Networking

Sponsors

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