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The Twin Cities stand out as a stable and attractive area for both investors and developers, mainly due to the two cities’ steady economic growth and robust employment landscape. Most multifamily fundamentals continued to improve this year, despite the ongoing economic uncertainty. Development was the only area that slowed down, according to a recent Yardi Matrix report.

Rent control measures enacted in 2021 introduced a series of challenges that forced developers to move toward the suburbs, and sparked a lively debate about affordable housing in the region.

To understand local dynamics and the wide-ranging consequences of the new legislation, Multi-Housing News reached out to Twin Cities-based Roers Cos, a company that has been investing, developing, constructing and managing multifamily assets throughout the metro since 2012. Executive Vice President Shane LaFave oversees the development team from the initial conception of a project through the end of construction.