Improving housing market bodes well for mixed-use real estate development projects.
Houston, Texas (PRWEB) August 27, 2013
According to the latest quarterly report put out by the National Association of Realtors, median home prices continued to rise in the majority of metropolitan areas in the second quarter. The report also says year-over-year prices reflect the strongest gains in seven years.
Calvin D. Blake, managing director of Direct Commercial Funding, Inc. adds that mixed-use development projects are proving to be industry leaders, and that his firm expects such projects to outpace overall market results in coming years.
“We’re seeing sharply rising demand for mixed-use project financing as well as increased interest in financing it,” notes Blake. “Projects blending retail shopping, apartments and other multifamily living have grown in popularity—especially among the younger demographic of home buyer. This trend is attracting knowledgeable investors.”
He points out that his own city of Houston is a prime example of big-city markets where modern, mixed-use commercial-residential developments are leading the way in generating urban renewal and jobs.
“Condos, apartments and trendy shops and restaurants equal an urban setting which increasingly appeals to home buyers—especially those in the younger age brackets,” he says. “Year by year, the numbers are bearing this out. We’ve seen growing interest in funding and financing such projects over recent business quarters, and I certainly don’t expect that to dissipate as the national economy continues to move out of recession.”
About Direct Commercial Funding Inc.
Direct Commercial Funding Inc. delivers customized solutions and a full menu of loan and financing programs for business owners, developers, investors and commercial real estate professionals throughout North America and abroad.
Investors and owners seeking to purchase, build or refinance apartment buildings, multi-million dollar apartment complexes, luxury apartment or townhouse communities or smaller apartment dwellings such as single-building apartments that house only four or five separate families are a focus.
For more information visit the company’s website DirectCommercialFunding.com or phone (877) 239-7933.