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Room For More Multifamily

Room For More Multifamily
Holland Development CEO Tom Parsons at one of Holland's Dexter Avenue properties.
Holland Partners Group COO Tom Parsons (snapped here in one of its under-construction Dexter Avenue projects) isn't worried about the number of units set to come on the market: "We under supplied apartments for most of the past six years, so pent-up demand is strong," he tells us. "Clearly if everything in the pipeline gets built ASAP, we will have a problem." But he doesn't think capital will pull the trigger on all of the large projects identified in the surveys.
Wallace Properties President and COO Kevin Wallace at the Glendale Country Club.
We asked a few people we know to describe how they were feeling about condos in one word. "Apathetic," said Wallace Properties president Kevin Wallace, who was the only person who managed to do it in a single utterance. (Essex Property Trust's Bryan Meyer came close with "No interest.") Jim Atkins: "Hats off to Nat Bosa." And Tom is the contrarian: "The market is tight and deals are evaporating. There is demand for new condos, just a difficult environment for development when it comes to financing."