Periodicals that cover the real estate business often focus on one or a handful of carefully selected markets. It can be productive for anyone who is interested in real estate to take a step back and see what is happening in other parts of the country. One of the easiest and most revealing ways to do so is to look at how leading real estate developers are approaching the markets they have chosen to target.
As those who check out NRIA web pages available online will see, this approach can prove especially informative. A quick look at the four markets NRIA is currently active in and how it caters to each could produce some useful insights about the real estate business more generally.
The Value of Learning about Middle-Market Success Stories
Real estate projects that make headlines often do so thanks to hundreds of millions of dollars in investment. Developments like Manhattan’s $25 billion Hudson Yards might generate plenty of interesting stories, but focusing on them will always produce a distorted view of the real estate business.
Many longtime observers avow that the best way to get a feel for the current real estate environment is to emphasize projects of significantly smaller scale. A good way to get started is to look into the so-called “middle market,” a place where budgets of $25 to $75 million are the norm.
Companies like NRIA have been setting new standards in this part of the industry for many years. Looking into how that plays out in particular parts of the country can be especially productive.
Four Markets with a Lot to Offer
Focusing on middle-market real estate development does not mean being confined to the nation’s hinterlands. In fact, some of the most interesting and dynamic real estate markets across the country host equally vibrant middle-market projects.
In addition to dedicating its efforts to middle-market real estate, NRIA has chosen to focus on four such markets. Each of these is worth learning about, with the four in question being:
- Brooklyn. Not so long ago, Brooklyn was often considered an overly rough, run-down neighbor to Manhattan. That has changed greatly, with many now regarding the borough as the most exciting of all in New York. Middle-market projects based in Brooklyn range from developments full of luxury homes to multifamily mid-rises.
- Philadelphia. Although its blue-collar heyday has receded into history, Philadelphia remains an appealing place to live. Always a bit rowdy and colorful, the City of Brotherly Love has hosted dozens of enticing middle-market redevelopment projects in recent years.
- Northern New Jersey. Being able to take a quick train trip to Manhattan has made Northern New Jersey a desirable place to live for decades. Middle-market real estate projects based there most often cater to well-off professionals looking to combine easy commutes with a relaxed pace of living.
- Southern Florida. Florida’s southern stretches have long been deemed some of its most desirable. Many middle-market real estate projects in this part of the Sunshine State focus on making luxurious homes available at affordable prices.
Versatile Excellence at Real Estate Development
Being able to succeed in markets as diverse as these takes plenty of specialized skills and knowledge. Companies that do so with middle-market real estate projects often prove to be especially revealing subjects to study for people who are interested in learning more about the industry.