Real Estate Partner Ben Graff Offers Insight for Phoenix Business Journal Article on Multifamily Zoning Projects
Phoenix – Ben Graff, a Phoenix-based zoning and land use partner in the Quarles & Brady Real Estate Practice Group, was quoted in a Phoenix Business Journal article looking at the challenges faced by developers of multifamily residential projects.
In this excerpt from the article, Graff addressed the Catch-22 many developers must overcome:
"When proposing a luxury development, the city or community may push back and express a desire for affordable housing," Graff said. "But when you propose affordable housing, you face the opposite demand for luxury units, amenities and higher rental rates. The biggest challenge is working with the city and the community to communicate why a luxury multifamily development is the best fit for the proposed location and how ultimately, the appropriate influx of all types of multifamily developments help to stabilize rental rates and meet a diversity of housing demands."