Welcome to Building Design+Construction’s third Multifamily Annual Report. Every year since 2023, the editors of BD+C have consulted with dozens of leading multifamily design and construction firms, industry economists, developers, and other market experts to publish this comprehensive report on emerging trends, innovations, opportunities, and obstacles in the $120 billion U.S. multifamily construction market.

The 71-page 2025 Multifamily Annual Report includes four sections (six reports in all) that cover the top 10 trends in affordable housing, senior living, and student housing; the 2026 market outlook for the multifamily housing sector; 17 innovations from multifamily design and construction firms; and the latest planning strategies and design innovations related to multifamily amenities (in the form of an AIA continuing education course).

- David Barista, Editorial Director
- John Caulfield, Senior Editor
- Quinn Purcell, Managing Editor
- Robert Cassidy, Contributing Editor
- Novid Parsi, Contributing Editor
- Robyn Feller, Contributing Editor

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TABLE OF CONTENTS

SECTION 1
2026 MULTIFAMILY HOUSING CONSTRUCTION OUTLOOK
Tracking the current and future states of the $120 billion multifamily construction market, including luxury and market-rate rental housing, for-sale housing, senior living, student housing, and affordable housing.

SECTION 2
MULTIFAMILY SUBSECTOR TRENDS
Top 10 Trends in the Affordable Housing Market
Top 10 Trends in the Student Housing Market
Top 10 Trends in the Senior Living Market

SECTION 3
INNOVATIONS ROUNDUP
2025: A Year of Innovation in the Multifamily Market
Leading multifamily firms share their top innovations for the year.

SECTION 4
CONTINUING EDUCATION
Beyond the Amenities War: What Moves the Needle in Multifamily Housing
Amenity strategies are no longer one-size-fits-all. From wellness suites to bike storage to EV charging stations, here’s what’s working across multifamily markets. This AIA-accredited course worth 1.0 AIA HSW.

MEET THE CONTRIBUTING EXPERTS
The BD+C editors connected with 102 market experts for this special report. Big thanks to the following professionals.

Jeff Adler, Vice President, Yardi Matrix

Beryl DePalma Alder, Assoc. AIA, Senior Project Designer, Moody Nolan

Ben Apfelbaum, LEED AP, Vice President, DAVIS

Ben Austin, LEED AP BD+C, WELL AP, Sustainability Manager, Findorff

Peter Bafitis, AIA, President, RKTB Architects

Rebecca L. Berry, AIA, LEED AP, NCARB, Principal, President, Director of Sustainability, Finegold Alexander Architects

Charles Bloszies, FAIA, Principal, Office of Charles F Bloszies, FAIA

Lorne Bourdo, AIA, Principal, Project Manager, OZ Architecture

Ken Boyd, AIA, LEED AP, Principal, Mithun

Melissa Brewer, RID, LEED AP, Associate Principal, RATIO Design

Yanitza Brongers-Marrero, FAIA, NOMA, Housing Practice Leader, Moody Nolan

Joe Bruce, Senior Vice President, Development, AMLI Residential

Christopher Bruen, Senior Director of Research, Chief Economist, National Multifamily Housing Council

Elliot Buff, Senior Associate, Landscape Architecture Team Leader, Cline Design

Alexis Burck, AIA, NCARB, Vice President, Senior Living Studio Leader, SmithGroup

Scott Campagna, PE, Vice President of Housing, IMEG

Lou Campero, Vice President, JE Dunn Construction

Anders Carpenter, AIA, LEED AP BD+C, Associate Principal, Higher Education Practice Leader, Perkins&Will

Carla Ceruzzi, AIA, LEED AP, Associate Principal, Sasaki

Robert Cesnik, Architect AIBC, LEED AP BC+C, MRAIC, Design Principal, HDR

Vishaan Chakrabarty, FAIA, FRAIC, Founder, Creative Director, Practice for Architecture and Urbanism

Lily Trinh Ciammaichella, AIA, LEED BD+C, Associate Principal, KTGY

Brendan Connolly, FAIA, LEED AP, Partner, Mithun

John B. Cruz III, President, CEO, Cruz Companies

Jonathan Delcambre, AIA, LEED AP, Residential Practice Leader, Gensler

Ian Dickensen, AIA, Associate Principal, Sasaki

Robert Dietz, Senior Vice President, Chief Economist, National Association of Home Builders

Brad Dillman, Chief Economist, Florey Street Advisors

David Dow, OAA, FRAIC, Principal, Diamond Schmitt Architects

Jocelyn Downing, LEED AP, NCIDQ, Senior Associate, Interior Design, Stantec

Mitch Elliott, AIA, Architect, Principal, RDG Planning & Design

Dov Feinmesser, AIA, LEED AP BD+C, Associate Principal, Director of Sustainability, Newman Architects

Patrick Fleming, Vice President, Commercial Group, JE Dunn Construction

Jeff Gouveia, President of Executive Operations, Suffolk

Paul Graves, PE, Fitwel Ambassador, Principal, CMTA Consulting Engineers

Mike Grever, General Manager of Commercial, The Weitz Company

Eric Harrmann, AIA, Chief Design Officer, AG Architecture

Patrick Hazard, Associate Principal, Team Leader, Merriman Anderson Architects

Andrew Heinen, PE, Civil Engineer, Senior Associate, Development Services, Kimley-Horn

Colline Hernandez-Ayala, Principal, Corporate and Commercial Regional Practice Leader, Perkins&Will

Ken Higa, AIA, IIDA, NOMA, LEED AP, Principal, Higher Education Practice Leader, The Beck Group

Denise Hoffman, NCIDQ, Senior Associate, Charlotte Interiors Manager, Cline Design

Scott A. Hunt, AIA, Associate Principal, RATIO Design

Luke Hutchins, Vice President, Findorff

Christian Joosse, AIA, NOMA, NCARB, Project Architect, Moody Nolan

Shelby Joubert, Director of Preconstruction, Swinerton

Ben Kasdan, FAIA, LEED AP, NCARB, Design Director, KTGY

John Kassing, Senior Vice President, Mary Cook Associates

Bob Keane, AIA, NCARB, Managing Principal, WDG

Donny Kim, AIA, LEED AP, Associate Principal, Director of Student Housing, Cooper Carry

Jon Kraft, PLA, Senior Vice President, Kimley-Horn

Jake Landreneau, Vice President for Innovation & Technology, Juneau Construction

Wes LeBlanc, Principal, Strategy Director, Gensler

Erik Leitner, Principal, Studio Leader, Pfluger Architects

Gregg Logan, Managing Principal, RCLCO

Nick Luettke, Associate Economist, Moody’s Analytics

Shelby Madrid, PE, Associate, Kimley-Horn

Ioanna Magiati, Architect, Partner, AO

Ben Mahala, AIA, Principal, Executive Vice President, Powers Brown Architecture

David P. Manfredi, FAIA, LEED AP, CEO, Founding Principal, Elkus Manfredi Architects

Lynn McBride, AIA, LEED AP BC+C, Partner, Mithun

Meaghan McGee, PE, LEED AP, Senior Associate, Kimley-Horn

Mohamed A. Mohsen, AIA, LEED AP, Principal, Niles Bolton Associates

Jeff Mulcrone, AIA, LEED AP, Partner, Multifamily Director of Design, BSB Design

Sara Murray, Senior Designer, Innovation, Mary Cook Associates

Chris Nebenzahl, Vice President, Rental Research, John Burns Research and Consulting

Bobbie Norris, Senior Vice President, Operations, Sentral

Hillary Owen, IIDA, LEED AP ID+C, Studio Practice Leader, HKS

Marc Padgett, President, Summit Contracting Group

Kayte Peters, Vice President, Residential, Denholtz

Jeff Pleshek, Assoc. AIA, Project Manager, Newman Architects

Matt Post, AIA, Associate Principal, OZ Architecture

George Ratiu, Vice President, Research, National Apartment Association

Doug Ressler, Manager, Business Intelligence, Yardi Matrix

Brooks Rutledge, Vice President, Layton Construction/STO Building Group

Janice Sanada, NCARB, LEED AP, Managing Principal, LRS Architects

Dan Schindhelm, AIA, Architect, Partner, RDG Planning & Design

David Shaffer, AIA, Associate Principal, Higher Education Practice Leader, RATIO Design

Cynthia Shonaiya, AIA, LEED AP, Principal, Senior Living and Affordable Housing Market Sector Leader, Hord Caplan Macht

Justin Shultz, PhD, BEMP, Associate Principal, Building Performance Director, Page

Lindsey Sielaff, LEED AP BD+C, Operations Manager, Hensel Phelps

Kristina Singiser, AIA, DBIA, LEED AP, Managing Principal, HMC Architects

James Sink, AIA, DBIA, LEED AP, Higher Education Practice Leader, HMC Architects

Drew Spears, Senior Director, BTR and Multifamily Development, Landmark Properties

Andrea Stalker, LEED AP, Principal, Client Executive, PBK

Jim Stanley, Executive Vice President, Los Angeles Division Manager, Suffolk

Sara G. Stein, AIA, LEED AP, Principal, Lead Campus Planner, Page

Brianna Steiner, Consultant, HKS Advisory Services

Tim M. Stevens, AIA, LEED AP, Principal, Campus Environments, SCB

Jay Szymanski, AIA, NCARB, LEED AP, Principal, The Architectural Team

Nigel Tai, OAA, CPHD, LEED AP, Principal, Lean Six Sigma Green, Diamond Schmitt Architects

Keval Thakkar, AIA, Principal, Affordable Housing Leader, Hord Caplan Macht

Michael Thompson, AIA, LEED AP, Principal, Campus Environments, SCB

Yetta Tropper, President, Multifamily, Southern Land Company

Jason Vesuvio, Vice President, Business Development, Pavarini McGovern/STO Building Group

Mark Warner, AIA, Design Director, Principal, Page

Kyle Wegner, General Manager of Supply Chain, The Weitz Company

Greg West, CEO, ZOM Living

Cody Whittle, Vice President of Operations, Andres Construction

Bill Wilhelm, President, R.D. Olson

Justin Wortmann, AIA, NCARB, LEED AP BD+C, Senior Project Architect, Senior Associate, Practice Leader, Perkins&Will

Joshua Zinder, AIA, LEED AP, Managing Partner, JZA+D

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