Twenty episodic sections are packed into about 75 intermissionless minutes, with written chapter titles like "Prophets" and "Twelve Dreams for Rent" projected on a handsome sail of fabric draped above the stage.
"Some of the rents they projected won't come to fruition for many years," Mr. Fasulo said.
Rents are projected to be $32 to $33 a square foot a year, which brokers said would be competitive for new buildings in the area.
Next year, even though vacancy rates will rise to 9.5%, rents are projected to increase by another 11% amid strong corporate demand in China's business capital.
According to the Spring 2018 Yardi Matrix U. S. Multifamily Outlook report, given the state of supply and demand in most metro areas and the steady economy, rents are projected to increase by 2.9% nationwide this year, with heavy concentration in late-stage southern and western U.S. markets.
Builders covet LEED certification — it stands for Leadership in Energy and Environmental Design — as a way to gain tax credits, attract tenants, charge premium rents and project an image of environmental responsibility.
Based on current market rents, Neithercut projects a mid-7″ mid-7″ on the investment.
"Build-to-rent projects usually have to be built to scale and have at least 100 units to support the infrastructure needed, which would include an onsite manager, says Morrison.
At the federal level, there is probably little appetite to tackle the distorting effects of capital gains tax and negative gearing, but changes to the the tax treatment of property trusts to ensure they can invest in build-to-rent projects is an easier step.
