The outlook for multifamily development will be a focal point of the conversation during the “Buy, Build, Sell, Hold” panel discussion at Connect Apartments 2025 in Los Angeles on Thursday. Among the experts comprising the panel will be Joe Gambill, development partner, Southern California for Hanover Company. In advance of Thursday’s discussion, he shares insights into the region’s development climate.
Q: You have been managing development activities in Southern California for more than a decade. What aspects of acquisition and development go more smoothly now compared to 10 years ago, and which are more challenging?
A: I would say almost everything is more difficult and takes longer at the current point in time, but the newly passed legislation in California provides some optimism and a new path for a lot of development that has never existed before.
Q: Gov. Newsom recently rolled back CEQA review requirements for urban infill projects that have already been approved under county and local environmental review. Do you anticipate that this will shorten the development timeline significantly?
A: It should provide developers with a much faster and more protected entitlement process, provided the sites meet the requirements of AB609.
Q: Five years ago, the pandemic turned many office-using employees into remote workers, and this shaped apartment development at the time. Are we still seeing the impact of the pandemic on apartment design in 2025?
A: 100%. While I think some things like large units with built-in desks could fade, I also think amenities like co-working spaces and offices that support work from home are here to stay for the foreseeable future.
Q: Is Hanover remaining focused on ground-up development or are you exploring adaptive reuse as well?
A: Ground up. We have looked at a lot of adaptive reuse, but haven’t been able to make it pencil.
Meet the nation’s top owners, investors, developers, brokers, and lenders—key decision-makers shaping the multifamily market. Whether you’re targeting capital partners, strategic suppliers, or industry visionaries, this one-day conference on September 11 in Los Angeles is your opportunity. Network smart, exchange insights, and forge relationships that drive deals. This isn’t just a conference—it’s where the dealmakers go. www.connectapts2025.com
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