In California, Development Bills Are The 'New Sexy.' Here's Why Housing Doesn't Get Built

Bisnow (February 17, 2020) Despite talk of the cycle ending, Orange County is exhibiting positive signs of growth. Most notably, a June update from the California EDD shows the county’s non-farm employment at 1,673,100, the largest on record. Additionally, in the last 10 years, the county’s workforce has increased by 282,500, or 20%. From a construction and development perspective, the call is being answered. To meet demand from continued job growth, the county has 24 large apartment complexes under construction, representing more than 5,000 units. According to a report from JLL, the business district office submarket has 2,203 housing units currently being built and 4,845 approved for construction. Derek Weisbender, along with four panelists, discussed asset classes primed for a big 2020 and OC's biggest under-construction projects at BISNOW's Construction and Development event on February 13. Read More