{"id":2080,"date":"2024-06-11T06:49:11","date_gmt":"2024-06-11T10:49:11","guid":{"rendered":"https:\/\/www.bowditch.com\/bowditchrealestateblog\/2024\/06\/11\/joshua-lee-smith-quoted-in-wall-street-journal-in-developers-sit-on-empty-lots-after-historic-apartment-boom\/"},"modified":"2024-06-12T10:47:41","modified_gmt":"2024-06-12T14:47:41","slug":"joshua-lee-smith-quoted-in-wall-street-journal-in-developers-sit-on-empty-lots-after-historic-apartment-boom","status":"publish","type":"post","link":"https:\/\/www.bowditch.com\/bowditchrealestateblog\/2024\/06\/11\/joshua-lee-smith-quoted-in-wall-street-journal-in-developers-sit-on-empty-lots-after-historic-apartment-boom\/","title":{"rendered":"Joshua Lee Smith Quoted in The Wall Street Journal in \u201cDevelopers Sit on Empty Lots After Historic Apartment Boom\u201d"},"content":{"rendered":"<p>During the biggest apartment construction boom in decades, a growing number of developers can\u2019t make the numbers work to get started on their project, or can\u2019t get the money to complete them. Higher interest rates, tighter lending conditions and flattening rents in parts of the U.S. have left property companies throughout the country waiting for financing that might not come soon. Joshua Lee Smith spoke with <em>The<\/em> <em>Wall Street Journal<\/em> about market conditions in Worcester where more than 2,000 apartment units are delayed.<\/p>\n<blockquote><p>Struggling projects include buildings with as many as 200 market-rate apartments and affordable housing, said Josh. \u201cThe interest rates are at a point where a lot of investors are sitting on the sidelines.\u201d<\/p><\/blockquote>\n<p>Continue reading \u201c<a href=\"https:\/\/www.wsj.com\/real-estate\/developers-sit-on-empty-lots-after-historic-apartment-boom-1c0e5fe8\" target=\"_blank\" rel=\"noopener\">Developers Sit on Empty Lots After Historic Apartment Boom<\/a>\u201d in <em>The Wall Street Journal<\/em> (subscription required).<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>During the biggest apartment construction boom in decades, a growing number of developers can&rsquo;t make the numbers work to get started on their project, or can&rsquo;t get the money to complete them. Higher interest rates, tighter lending conditions and flattening rents in parts of the U.S. have left property companies&hellip;<\/p>\n","protected":false},"author":109,"featured_media":1959,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_links_to":"","_links_to_target":""},"categories":[78,27],"tags":[132,501,159],"class_list":["post-2080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-construction","category-development","tag-affordable-housing","tag-apartment-construction","tag-real-estate-developers"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Joshua Lee Smith Quoted in The Wall Street Journal in \u201cDevelopers Sit on Empty Lots After Historic Apartment Boom\u201d - Commercial Real Estate Insight &amp; News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bowditch.com\/bowditchrealestateblog\/2024\/06\/11\/joshua-lee-smith-quoted-in-wall-street-journal-in-developers-sit-on-empty-lots-after-historic-apartment-boom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Joshua Lee Smith Quoted in The Wall Street Journal in \u201cDevelopers Sit on Empty Lots After Historic Apartment Boom\u201d - Commercial Real Estate Insight &amp; News\" \/>\n<meta property=\"og:description\" content=\"During the biggest apartment construction boom in decades, a growing number of developers can&rsquo;t make the numbers work to get started on their project, or can&rsquo;t get the money to complete them. Higher interest rates, tighter lending conditions and flattening rents in parts of the U.S. have left property companies&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bowditch.com\/bowditchrealestateblog\/2024\/06\/11\/joshua-lee-smith-quoted-in-wall-street-journal-in-developers-sit-on-empty-lots-after-historic-apartment-boom\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Real Estate Insight &amp; News\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-11T10:49:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-12T14:47:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bowditch.com\/bowditchrealestateblog\/wp-content\/uploads\/sites\/4\/2023\/05\/smith-listing.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bowditch &amp; 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