In a new survey conducted in the Tri-State and Mid-Atlantic regions, 60% of developers said they were shifting their emphasis away from big houses to "conservative pedestrian-oriented mixed-use neighborhoods."
The survey, conducted by the Strategic Alliance, a group of real estate-related companies, revealed a continued gloomy outlook for developers.
Another question showed more than 63.1% are re-evaluating their projects, planned pre-recession, from a product/layout/density standpoint.
The multifamily residential market came out on top as the sector holding the greatest potential for growth over the next year with 61.4% of respondents, followed by 19.2% for single-family, and 8.7% for active adult.
FULL STORY: Business Survey Gauges Real Estate Market in Tri-State, Mid-Atlantic
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