Fewer apartment projects are moving forward across Tampa Bay as developers work through thousands of units delivered between 2022 and 2024, a slowdown some developers believe could tighten the market again later this decade.
LD&D is nearing construction financing for DoMo at Cass Square, a 360-unit apartment tower in downtown Tampa, as Bonet says lenders have become more willing to finance apartment projects after nearly two years of higher borrowing costs, slower rent growth and cautious investment activity.
Bonet said many recently completed apartment buildings are now leasing steadily even as fewer new projects enter the pipeline…