{"id":1004161394,"date":"2016-12-27T23:47:53","date_gmt":"2016-12-28T07:47:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004161394"},"modified":"2025-02-26T23:30:29","modified_gmt":"2025-02-27T07:30:29","slug":"yardi-matrix-baltimores-downtown-surge","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-baltimores-downtown-surge\/","title":{"rendered":"Yardi Matrix: Baltimore\u2019s Downtown Surge"},"content":{"rendered":"<div id=\"attachment_1004151582\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/internal.multihousingnews.com\/wp-content\/uploads\/sites\/46\/2016\/12\/Baltimore.png\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004151582\" loading=\"lazy\" class=\"wp-image-1004151582\" src=\"https:\/\/internal.multihousingnews.com\/wp-content\/uploads\/sites\/46\/2016\/12\/Baltimore.png\" alt=\"Baltimore\" width=\"400\" height=\"170\" \/><\/a><p id=\"caption-attachment-1004151582\" class=\"wp-caption-text\">Baltimore rent evolution, click to enlarge<\/p><\/div>\n<p>Despite the ongoing revival of the downtown area, growth in Baltimore\u2019s multifamily market remains weak compared to nationwide metrics. Yet benefiting from demand in core submarkets and the proximity to Washington, D.C.\u2019s more dynamic but less affordable market, the metro continues to display stable fundamentals, with rents up 3.3 percent year-over-year.<\/p>\n<p>Anchored by its universities and health-care providers, the metro has a consistent talent pool of highly skilled workers. Recording positive population growth for the better part of the last decade, Baltimore is perceived as a safe market by both investors and developers. Several large projects\u2014including the 3,100-acre Tradepoint Atlantic industrial park, the $1.1 billion Harbor Point development and Sagamore\u2019s $5.5 billion Port Covington project\u2014highlight the city\u2019s ability to diversify its economy and use the demographic shift as a long-term booster.<\/p>\n<p>The commercial development pipeline mirrors the area\u2019s multifamily market, as Baltimore is on track to top the 2015 level of new stock. The metro is also expected to exceed last year\u2019s transaction volume of $1.4 billion, bringing a new cycle record. With 2,700 units completed year-to-date and an additional 30,000 in different stages of development, Baltimore is likely to keep demand in check due to its consistent pipeline. Yardi Matrix forecasts a 2.8 percent rent growth for 2016.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/162-Baltimore-Fall2016Outlook\" target=\"_blank\" rel=\"noopener\">Read the full Yardi Matrix Report.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Benefiting from demand in core submarkets and the proximity to Washington, D.C.\u2019s more dynamic but less affordable market, the metro continues to display stable fundamentals.<\/p>\n","protected":false},"author":1318,"featured_media":1004161395,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,1579,21808,26290,11,21742,37795],"tags":[],"class_list":["post-1004161394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-baltimore","category-featured","category-cpe-weekly-newsletter-icumi","category-midatlantic","category-latest","category-rc-occupancy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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