People up here are trying to fight this expansion but I think it's a losing battle.

It's all about market growth and where the market is in their expansion cycle.

Assume a project cost in the 10-50mm range in gateway / primary markets 90/10 dealI currently use the following UW Assumptions: cap rate expansion: 5-10 bps per yearrent growth: 2-2.5% annualProduct type:                      mid rise affordable MF spec developmentTerm:                                 3 yrs holdYOC:                                   6-7%Trended ROC/spread:          150 bps > exit capLIRR:                                   16-17% EM:                                      2xLTC:                                    65%LPs pref:                              9%Waterfall:                            80/20 to 13%                                           70/30 to 18%                                           65/35 thereafterLook forward to what others have to say

This expansion of the BP search function is going to help you connect with more local investors and see who is working in your local area.

Buda, Kyle, and San Marcos are also seeing expansion.

I am in escrow to purchase an 114 unit with room for expansion that is about 90 minutes from my home.

I have not yet done the population/job growth studies to understand why the area is growing so much; is it just the further expansion of Phoenix metro?  

We're in an expansion. 

But if we don't mind the store ( the daily operations, tenant selection, site facilities maintenance) and only work on expansion of the portfolio, the sky can come crashing down.There's an old adage: the longest journey begins with just a single step. 

Granite is a trade I am looking for in my company expansion.