Will Multifamily Demand In Downtown Nashville Keep Up With Supply?
Is the Nashville boom sustainable for a few more years, or is the market now especially at risk of overbuilding or other kinds of problems? That will be one of the questions for our speakers at the first Bisnow Nashville State of the Market on July 19 at the Doubletree Hilton in Downtown Nashville.
The answer depends on jobs. Bristol Development Group co-founder and principal Sam Yeager, who will be a speaker at our event, and whose firm has developed numerous multifamily properties in the Southeast, Southwest and Mid-Atlantic regions, tells us the construction pipeline for multifamily development in Downtown Nashville is "predicated upon employment growth remaining consistent with 2014-15 for the next three years."
The desire to live Downtown is certainly still strong. In its most recent residential survey, the Nashville Downtown Partnership noted that among residents Downtown, more than a third (34%) had moved there from out of state in 2015, an increase from the previous year (29%). Downtown residents are well educated—87% college grads (with 34% postgrads)—and tend to have high incomes, with 58% making more than $100k/year.
Come hear more at the Nashville State of the Market, beginning at 7:30am on July 19 at the Doubletree Hilton in Downtown Nashville. Sign up here.
