The Rent Roll with Jay Parsons EP#34 Alfonso Costa Jr. | 5 Takeaways From Apartment REIT Calls
May 15, 2025
Alfonso Costa Jr., COO at Falcone Group and former HUD official, shares insights on the evolving apartment market. He emphasizes the importance of collaboration between public and private sectors to address housing challenges. The conversation dives into effective strategies for new development amid high interest rates and ongoing economic uncertainties. Alfonso also discusses Florida's 'Live Local' initiative and its impacts on workforce housing, along with insights on navigating current construction costs and evolving market dynamics.
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REITs Keep Buying and Building
- Apartment REITs remain active buyers and builders despite market challenges and competition.
- Tariff uncertainty slows transaction volume but not pricing, with robust future job growth as a key buying factor.
Alfonso Costa Jr.'s Career Path
- Alfonso Costa Jr. shared his journey from Yale and Oxford to HUD and now private development, highlighting his focus on housing and community health.
- His experience spanned teaching, political work, and real estate, culminating in overseeing HUD housing policies.
Power of Public-Private Collaboration
- Alfonso emphasizes the importance of public-private partnerships and bridges between government initiatives and private development.
- He praises HUD Secretary Scott Turner's leadership and commitment to affordable housing.