AMLI CEO Greg Mutz Isn't Into Chasing Trends

AMLI Residential CEO Greg Mutz sticks to what's been successful for him since he founded AMLI in 1980.

With over 23,000 apartments in nine markets, including Chicago, Austin, Denver, Dallas and Houston, Greg says he isn't chasing passing trends like micro-apartments, as those end users aren't in AMLI's wheelhouse. Instead, Greg (a featured panelist at Bisnow's BMAC Midwest annual conference Nov. 30) continues to see demand for larger units, as a growing number of empty nesters are entering the market. These renters are demanding larger footprints and buildings packed with amenities. Greg says AMLI is doing extraordinarily well with three-bedroom units.

AMLI Residential CEO Greg Mutz
Photo credit: Chuck Sudo/Bisnow

The trends that Greg puts stock in are tried and true. AMLI uses proven metrics to target where to build, such as density, proximity to transit and WalkScores. It selects sites primed for development, with access to major employment centers, entertainment districts, cultural institutions and college hubs.

In markets like Chicago's South Loop (where AMLI owns the 440-unit AMLI 900 tower and the 398-unit AMLI Lofts), TOD is exploding thanks to a rise in transportation options. Ride-sharing, in particular, has been a game-changer. Despite the market's real estate activity, Greg says the South Loop is still underserved by taxis. Uber, Lyft and other ride-share programs have filled that void.

AMLI is in the catbird seat with regards to investment. Greg says AMLI is 100% unleveraged. It's a long-term holder, and he's confident the firm's track record is enough to secure construction loans from banks despite their caution, if and when the need arises.

Greg says he's keeping an eye on rising construction costs and increased regulation, which have added layers of complexity to the development process.

To learn more at the feet of Greg and our other expert panelists, attend Bisnow's BMAC Midwest annual conference, Wednesday, Nov. 30, at the JW Marriott Chicago. Register here.

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