Katherine Mosley is an 11-year veteran of the multifamily industry and currently oversees all development for TriBridge Residential.
Katherine enjoys piecing together a development like a complicated puzzle and never tires of the constant need to think outside the box to turn today’s development opportunities into reality.
She loves balancing her life as a developer, mommy, and Anthropologie enthusiast.
13 After’s Dean Boswell asked Katherine to share some insights and ideas.
Q: Katherine, do you foresee the continued development of for-rent product in booming markets like Raleigh and Charlotte? Or do you think we will soon see a shift to for-sale multifamily dwellings in the hottest markets?
A: I think we will continue to see the boom. While we certainly have reached a point in certain markets where it is less expensive to own than to rent, we also have more Gen-Y in the rental field and many Baby Boomers who are starting to downsize. Both groups love the flexibility and limited commitment that comes with renting, not to mention the extravagant amenities that are now the status quo of any new development.
Q: What city in the Southeast has the potential to be the next “it” market for multifamily development?
A: The next “it” market? With as much activity as we are seeing, Nashville, Charlotte, and Atlanta are all currently “it” markets.
Q: With a shortage of homes for sale, and tremendous development in rentals, what are you seeing with leasing numbers across your portfolio of properties?
A: Organic rents continue to grow with record-setting rents in new product. The real impact will be seen in the next 24 months as concessions increase and competition for renters becomes more fierce.
Q: What effect would a significant increase in first-time homebuyers have on the apartment industry? Is there anything managers should be doing to prepare?
A: I do not see an increase in first-time homebuyers causing a noticeable impact to the apartment industry. Continuing to provide a sense of community and highlighting property amenities — in particular locational amenities like proximity to Atlanta’s BeltLine — will continue to endear the ease and convenience of apartment living to renters.
Q: Anything else you’d like to say to our readers?
A: Let’s start planning for the next phase in Southern urban living, where we really do let go of the car (not just on the weekend) and really engage in our neighborhoods through walking and biking.
About the Author: Dean Boswell