The multifamily market remains resilient across the United States. Detroit and its surrounding communities are no exception.
The mood was positive, then, at the sixth annual Detroit Apartment & Multifamily Summit held by Michigan Real Estate Journal Nov. 14 at The Community House in Birmingham, Michigan.
Panelists, which included the biggest names in the Detroit-area multifamily sector, emphasized how strong the local apartment market remained in the metropolitan area. Some of this has to do with challenges in the single-family housing market: As single-family homes become more expensive, and mortgage interest rates remain above 6% for a 30-year fixed-rate mortgage, more would-be owners are forced to rent.
But there’s also the strength of the renter-by-choice market. Many people are choosing to rent as an alternative to buying a single-family home. This, too, is a trend that is fueling the Detroit-area multifamily market.
The summit also featured networking opportunities, while attendees could earn three hours of continuing education credits.
The summit started with the Detroit Multifamily 2025 — Deals, Demand, and Submarkets to Watch panel. Speaking during this session were Christian Zaciewski, Director, Newmark; Matt Temkin, Co-Founder, Greatwater Opportunity Capital; Andrew Kuhn, Founder and CEO, Sunrise Communities; Kevin Dillon, Senior Managing Director, Investment Sales, Berkadia; Jack Johns, First Vice President, Institutional Properties, Multifamily, CBRE; Matt Jones, Managing Director, Investment Sales, Walker & Dunlop; John Woods, Chief Investment Officer, BELFOR Real Estate; and Alfredo Casab, Member, Dawda, who served as the panel’s moderator.
Build, Reposition, Operate- 2025 Development and Design Trends panel featured Reshma Sambare, Attorney and Counselor at Law, Miller Canfield, the session’s moderator; Michael Poris, Founding Principal, McIntosh Poris Architects; Clarke Lewis, Director of Urban Investments, REDICO; Michael Ferlito, Partner and CEO, Ferlito Group; and Ryan Wrigley / Director of Interior Design & Vice President, HOBBS+BLACK ARCHITECTS.
Participating in the Capital Markets 2025: Challenges and Opportunities panel were Adam Gould, Senior Vice President, BWE; Kevin Kovachevich, Principal, District Capital; Mark J. Bennett, Managing Member, MJBennett, the panel’s moderator; Jill Ferrari, Partner, Schenk & Bruetsch; Sanford J. Aaron, General Counsel, S.R. Jacobson Development Corp.; and Loren Biller, Senior Vice President, Originations, PACE Loan Group.
