This is a short clip of a three hour hearing in my town. The people are given five minutes to ask questions and make statements. This was my five minutes to speak and the developer’s response.
When a developer comes to town like, Daniel E. Bertram, of Bright Raven Development LLC, which is registered in Puerto Rico, and part of a conglomerate of businesses, from BRT DiMarco, BRT Sconset, to BRAINERD HOLDCO, LLC, he stands to make a goldmine as the largest rental property owner in town. The sad reality is the citizens are left with the bill. Nowhere is this more obvious then with the apartment business. The multifamily housing industry is predatory. It hurts towns and the local people it builds and develops in. In my small town the developer has been playing cat and mouse. When I asked my question I finally got the truth,
“530 units were laid out for the site. This is one of the best affordable housing sites I’ve ever seen. The utilities are there, no wet lands. All kinds of things.” Daniel E. Bertram.
The good citizens of Connecticut must understand the battle we face to save our local voice. Connecticut is under a developer boom. Towns across the state are seeing giant multi family complexes rising at an exponential rate. These new constructions will drive up property taxes. The developers are making millions of dollars a month and becoming the largest rental property owner in the state. Blackrock is the new landlord, this is not hyperbole.
"The multifamily housing construction (apartments) market size has grown strongly in recent years. It will grow from $816.88 billion in 2023 to $887.81 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to demographic trends, economic conditions and urbanization, interest rates and financing, rental market dynamics, social and cultural shifts. The multifamily housing construction (apartments) market size is expected to see strong growth in the next few years. It will grow to $1265.59 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%."
When the Citizen is the Commodity!
Full podcast:
Multifamily Industry Report https://thebusinessresearchcompany.com/report/multifamily-housing-construction-apartments-global-market-report
Multifamily Housing Industry
Multifamily Investment
https://gatsbyinvestment.com/invest/multi-family-development Why Multifamily Housing Will Dominate the Future of Real Estate https://commercialobserver.com/2017/12/why-multifamily-housing-will-dominate-the-future-of-real-estate/ https://coolspring.info/home
When The Developer Comes to Town