I had the opportunity to attend the Elevate Conference in Miami at the end of 2025, where industry leaders gathered to discuss the shifting dynamics of multifamily real estate across North America. The conversations were insightful, and the trends we explored will undoubtedly shape how developers, investors, and designers approach projects in the coming years. Here are my biggest takeaways:
Shifting Investment Strategies
While economic conditions have introduced some caution into the market, this is creating space for smarter, more strategic investments. Instead of rushing into entry-level offerings, investors are taking time to evaluate opportunities that deliver long-term value. Purpose-built rentals in non-core markets may be slowing, but this pause is encouraging developers to focus on quality, location, and amenities that truly resonate with today’s renters. It’s less about a slowdown and more about a thoughtful recalibration.
Luxury Rentals Are Thriving
Luxury rentals continue to shine as more people embrace flexibility and convenience without sacrificing quality. High-net-worth individuals, especially those between 25 and 40, are drawn to the idea of premium living with exceptional amenities and no long-term commitment. This lifestyle-first approach is fueling demand in vibrant markets like Charlotte, Myrtle Beach, Charleston and Greenville, where strong employment growth supports upscale offerings.
A great example is The Novus in Durham, North Carolina, a 27-story tower featuring 188 rentals and 54 condos that opened in July 2025. It demonstrates how thoughtfully designed luxury communities can thrive by delivering elevated experiences that resonate with today’s renters.
The Rise of Branded Residences
As construction costs rise and rental rates level out, developers are turning to branded multifamily projects to create perceived value and foster brand loyalty. These projects bring the same standards and trust associated with their brand, which translates into higher rental rates and longer tenancy. Hotel brands are leading the way, introducing luxury residences with hospitality-level amenities, think Four Seasons Las Vegas Residences and The Ritz-Carlton Residences at The Woodlands.
Developers are also creating sub-brands within their portfolios to differentiate offerings: one for affordable, no-frills rentals and another for high-end luxury products. This branding strategy is becoming a powerful tool for market positioning.
Market Hotspots
In the U.S., Florida and New York remain top states for high-rise multifamily investment. In Canada, strong population growth is fueling opportunities in Saskatchewan, Nova Scotia, New Brunswick, and Newfoundland, where demand for quality rental housing continues to rise. While major cities like Toronto and Vancouver are seeing a more balanced rental market, this stability creates room for innovative projects and long-term planning, positioning developers to deliver communities that meet evolving lifestyle needs.
The Trillion-Dollar Tsunami
Perhaps the most transformative trend discussed was what CBC calls the “Trillion-Dollar Tsunami”, the largest transfer of wealth in history. Baby Boomers and Generation X are passing wealth to younger generations or financially supporting adult children. With less desire for homeownership among Millennials and Gen Z, and a growing preference for flexibility and convenience, high-quality multifamily properties stand to benefit from this generational shift in disposable income.
What This Means for Our Industry
The future of multifamily real estate is being shaped by lifestyle preferences, branding strategies, and demographic shifts. For developers and designers, this means thinking beyond square footage and focusing on experience-driven living, luxury amenities, branded environments, and flexible spaces that cater to evolving consumer expectations.
At Ware Malcomb, we understand that multifamily design is about more than buildings, it’s about creating communities that reflect evolving lifestyles and deliver long-term value. From luxury high-rise developments to branded residences and purpose-built rentals, our team brings deep expertise in planning, architecture, and interior design to every project. We partner with developers to navigate complex market dynamics, integrate innovative amenities, and deliver spaces that attract and retain residents. Whether it’s shaping a vibrant urban tower or crafting a flexible living environment, Ware Malcomb is committed to elevating the multifamily experience.
