The National Multifamily Housing Council noted that the apartment market had recorded its sixth consecutive quarter of tightening conditions. Labor shortages, rising interest rates, and supply chain issues are currently affecting construction timelines. How have these challenges impacted the timeline to complete your Multifamily Project? Read on!
A project built in 12 months in 2013 now takes 17.5!
Did you know: According to the 2021 Survey of Construction (SOC) from the Census Bureau, the average length of time to complete construction of a multifamily building after obtaining authorization is 17.5 months.
The 2021 Survey of Construction (SOC) data also shows a significant regional variation in the average construction duration of multifamily buildings.
Are projects taking longer?
Nearly all the apartment developers who responded to the National Multifamily Housing Council’s Q2 2022 survey of apartment construction and development activity, conducted from June 6 to 23, said they’ve experienced delays during the second quarter.1
What can you do about it?
As a developer, you want to build as fast as possible! Here are some ideas that you can do to get to a Certificate of Occupancy quicker:
- Focus on building in development-friendly jurisdictions
- Partner with a design team that works fast
- Rethink traditional building methods by exploring all material and construction types
- Infuse prefab and offsite design
BASE4—your multifamily experts!
We perform all services in-house, including architecture, structural engineering, MEP engineering, interior design, 3D BIM visualization, and construction administration.
We help developers, general contractors, and factories find better ways to build through innovative technology, forward-thinking design, and offsite manufacturing.
BASE4 has a product-centered approach using 100% Revit design. We perform all services in-house, including architecture, structural engineering, MEP engineering, interior design, 3D BIM visualization, and construction administration. We have over 200 engineers, architects, and designers ready to move your projects through to completion—with fewer coordination errors and faster speed.