Apartment Building Developers Face Shortage of Construction Workers

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Apartment building developers have a lot to worry about. So many new developments are under construction, they are likely to compete with each other—and not just for residents.

Developers are also competing to find construction workers to build their projects.

“A very tight construction labor market is going to get even worse,” says Bill McDonald, president and chief investment officer of Mill Creek Residential, a multifamily developer. “It could cause a meaningful ramp up in costs.”

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