Business View Magazine - Feb 2024

is due to the ease of financing these projects. “The developer does not have to pre-lease units, since banks have confidence in achieving full occupancy,” states Yanowitz. Apartment units are the superior choice for developers seeking straightforward financial backing. Beyond the financial appeal, municipalities pursue multi-family developments to support their master plans, recognizing the positive impact on local businesses through increased resident populations. Yanowitz emphasizes the symbiotic relationship between housing and retail or office spaces. “It is often advantageous for communities to bring in more multi-family projects, as a growing population only supports local businesses and increases tax revenue.” This relationship is pivotal in civic planning. Recognition of the need for diverse housing solutions is gaining prominence, extending beyond affordable housing to include options for young professionals, empty nesters, older adults, and accessible housing. The financial viability of communal living, coupled with broader societal benefits, positions it as a key Proud Partner of We've been supporting the AEC Industry for over 30 years LYF Architects! Software, Training, CAD/BIM Workflows, Scan to BIM, Modeling services and more. 888-355-0081 info@microcad3d.com www.microcad3d.com 57 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 02 LYF ARCHI TECTS