Will The Pandemic Kill Demand For Micro-Units?
For the past five-plus years, micro-units have been an intriguing subplot in the grand saga of commercial real estate. As demand for housing has boomed, especially in rent-burdened cities like New York and San Francisco, developers gambled that tenants would tolerate tiny units — some as small as 220 SF — for the chance to access cool neighborhoods at affordable rents. Now, though, some real estate experts wonder whether the coronavirus will kill, or at least cripple, the concept.
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RSK: I think you have to treat them like mini-warehousing.....high rate of turnover and an over abundance of time and effort. However, the price per square foot may be worth it.

Ken Notes: If we ever want to support economic diversity we are going to have to think small.



- - Volume: 8 - WEEK: 29 Date: 7/14/2020 9:09:28 AM -