If you were hoping construction lending for apartments would loosen up in 2017, you might need a plan B. During a recent interview with UNITS magazine, Matt Fiascone, president of Taylor Johnson client The Habitat Company, shared his insights regarding today’s today’s more cautious lending environment and why some pipeline projects will stay grounded. Whereas before lenders would fund a 70 percent loan-to-cost construction loan, today that number is closer to 60 percent, explains Fiascone. On a positive note, a reduced supply could support higher rents that otherwise wouldn’t be achievable. To read more about Fiascone’s apartment finance market outlook, click here.

Matt Fiascone, president of The Habitat Company, spoke at the Nov. 30 Chicago Bisnow Annual Multifamily Conference.
(Photo courtesy of Bisnow Chicago)