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City Club Missoula Forum: Interest rates, construction costs challenge infill development
November 19, 2024/
From interest rates to inflation, developing vacant properties in the urban core has become increasingly challenging, prompting some projects to stall in the design phase, a team of developers said on Tuesday.
Other issues like NIMBY opposition and development review can also add time and in the building world, time is money. Wait too long and there’s less of both.
Tuesday’s City Club forum, “The Construction Gap: Why Infill Sites are Slow to Fill In,” named a number of challenging issues facing local development. Construction prices, interest rates and inflation are beyond a developer’s control, while return on investment can also be a moving target.
Missoula faces new construction hurdles amid affordable housing crisis
Developers and builders discussed the challenges of constructing new homes during this month’s City Club Missoula meeting.
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