The need for creative, multi-family land developments

Home buyer behaviors are changing fast. More people of all ages are seeking to leave cities, yet still value the urban vibe and nearby amenities that cities provide. Many baby boomers are willfully transitioning out of single-family homes in search of flexibility and affordability. Likewise, early 20s Gen Z and millennials are bringing new ways of thinking to their housing searches. They are willing to rent rather than buy, recognize smaller cities are modernizing and offering similar benefits as large metro areas, and seek more recreational opportunities.

The challenge? A limited number of housing options fit their needs.

This strong market demand coupled with limited supply creates a timely opportunity for private developers and communities to capitalize by reviving a trend from the 1940s that provides creative housing choices. “Missing middle housing” is a neighborhood development with creative placement of a variety of house-sized building types, such as duplexes, multiplexes, bungalow courts, townhomes and live-work spaces. It’s labeled “missing” because this type of housing hasn’t been built much since the 1940s, and “middle” because they can be situated on empty parcels between a spectrum of housing types – such as single-family homes and mid- to high-rise apartments.

You can explore this emerging trend in multi-family housing development in depth here: Why Missing Middle Housing Is an Emerging Trend in Multi-Family Development.