For now, however, the mood is cautious. Developers who expected a seamless run of rent growth and cheap financing are recalibrating — or cashing out.
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Amid rising construction costs, fluctuating interest rates and tariff disputes, developers are increasingly choosing to sell sites they have spent years entitling rather than sit on land they can’t afford to build on yet.
Developers are offloading parcels for mixed-use, condo, townhome and multifamily projects, as some struggle to land equity investors or bank financing.