Roseland’s Shiff & Woodmont’s Witmondt Strategize on Stretching the Cycle’s Extra Innings: Create Experiences, Rethink Amenities
JERSEY CITY, NJ – The New Jersey apartment sector has had a great run throughout this last economic cycle (to put it lightly). But how can we keep the momentum going at this point in time, where people are constantly talking about the risks of a recession thanks to the on-going Trade War and an inverting yield curve? “Special Luncheon Discussion: How to Continue Growth in New Jersey’s Multifamily Sector” at CAPRE’s Ninth Annual New Jersey Apartment Summit & Awards Ceremony dove right into this topic, looking to panelists Gabriel Shiff, Chief Operating Officer, Roseland Residential Trust, a Mack-Cali Company & Eric Witmondt, CEO at Woodmont Properties for color commentary. “We’ve got the battle of the titans here,” joked Moderator David Minno, President of Minno & Wasko Architects and Planners. “How do you see this trend continuing giving the stage we’re at in this cycle?” “I think that Jeff Persky, Executive Vice President at KRE Group, said it best on the last panel – “The Future of Multifamily Construction, Design & Development in New Jersey,” replied Witmondt. “Fifteen or twenty years ago, you would not see new apartment construction in New Jersey. New Jersey’s political environment and the community bias toward apartments was very strong. The apartments that existed were built 20-40 years ago, and were built for a demographic that was a renter by necessity – not a renter by choice.” “What I’ve seen in New Jersey, in the…
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