Inventory

How can the industry keep up with housing market demand?

Benach: The market demand in Chicago is different than most other parts of the country. Each product and market segment here has a very finite life cycle. The only true job growth in the Chicago area right now is in the city (much of it in the West Loop) and Naperville, where about half of all suburban activity is happening right now.

Lev: In these times, being disciplined is important, as is being smart enough and nimble enough to move forward when the right opportunity comes along. We hope to be as prudent as possible in making decisions. In an inherently risky industry, you have to minimize risk. We have concerns, but they’re for things beyond our control. We don’t yet know what will be the impact of the new tax plan on mortgage interest rates and other factors. All we can do as a developer is to find good locations and fulfill some niche in the marketplace. Most importantly, we also want to stay true to our values.