Is it more affordable to develop in Triad NC right now?

[Patrick Nickerson]

Have been giving some thought to developing multi family. Can anyone with recent experience in NC share their expertise?  

In a market with few quality “value add” opportunities(sub $10M) and lower yields,  I’m wondering how the returns on developing a complex(under 100 units) stack up to simply waiting for the market to produce a value add. 

Met a multi family developer the other day and they seem to have multiple projects underway or in lease up.

Thanks in advance!