As land prices rise, retail and multifamily go head-to-head

If a retail developer and a multifamily developer are in a bidding war for a prime tract of land, put your money on the multifamily developer.

More often than not, apartment developers can far outbid retail developers for land, sometimes bidding twice as much as a retail developer could. It’s for a simple enough reason – apartments have more revenue streams stacked atop one another than a one- or two-story retail development – but these bidding wars are leading to the development of more mixed-use projects in Houston.

Click to read more at Houston Business Journal.