2022 Apartment Outlook: As Good As It Gets
McHugh Construction’s Ray Cisco talks about how multifamily is booming with optimism as rent fundamentals surge to historic highs and investors flood the sector with capital
Inflation, supply chain breakdowns, and labor costs continue to hit the front lines of multifamily development, too, challenging builders to bring more units online and meet demand from renters and investors alike. “There’s a huge rush on apartments, everybody wants to be first out of the ground,” says Ray Cisco, vice president of McHugh Construction, which resumed work in fall 2021 on 1000M, the Helmut Jahn-designed residential tower in Chicago’s South Loop that has converted from 506 condominiums to 738 rental apartments.
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