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justify the risk of building the apartments . So , we have several projects in our pipeline that are currently on hold while we create a solution to the puzzle of getting costs and revenue in line . In the meantime , we have some beautiful communities that are ready to go and if we can creatively come up with a solution , we ’ ll be very excited to start them .”
The future generation
“ We have a number of beautiful apartment communities ready to develop ,” Drew reveals . “ We ’ re currently working on a community of 230 units in Acton , Massachusetts , a western suburb of Boston . This is a spectacular waterfront property located on the Assabet River . Our construction partners are working very hard to try and give us the best prices possible , so , we ’ re continuing to be optimistic . If we can get through this cycle , hopefully interest rates will normalize and prices will dip a little , then we ’ ll be in a great place to continue delivering new housing opportunities in places where they are needed .”
Deane concludes : “ The future is focused on training the fifth generation of which Joe is part , to confidently take the business forward and continue our success . We ’ re very proud to have the fifth generation with us to share our passion for owning , operating , and developing multifamily housing . We will continue to look for opportunities to develop our portfolio up and down the East Coast of the US , partnering with investors that share our philosophy and the benefits of owning real estate for the long haul .” ■
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