Real estate development predictions for 2023

by Timothy Inklebarger

Featuring the perspectives of:

Tony Adams, Regional Vice President, Kolter Homes
David Tufts, Partner and Chief Development Officer, @properties/Ansley Developer Services

Will you add inventory in 2023?

Tufts: Many of our projects that have been underway throughout 2022 will be sold out or nearly sold out in Q1 of 2023. We’ve had huge success with Graydon and Halcyon and have adjusted our efforts to refill our pipeline. We had the foresight to anticipate 2023 would be a year for growth and have laid that foundation with several developments and continue to look for more opportunities. With offices in Atlanta and Chicago, our firm has a national platform that provides an added advantage as we continue to add inventory in multiple locations. The projects we’re focused on for 2023 include Parkside Roswell, Burton, Roycraft, Harbor Club and Ford Field and River Club, all located in Georgia, plus The Views in Lake Geneva, Wisconsin.

Adams: In addition to maintaining our success at Cresswind Georgia at Twin Lakes, we will be opening two new communities in Georgia in 2023. One is Oak Hill Reserve, a small age-restricted neighborhood located in Newnan that we’re excited to debut new floor plans at in the spring. Our second new community will be a brand-new Cresswind in Newnan that is a follow-up to the success enjoyed at Cresswind Peachtree City which we’re currently selling out of.

Will supply chain issues continue to hamper new construction in 2023?

Adams: All signs indicate that supply chain issues will carry into 2023, though I am hopeful that in the second half of the year we should see stability returning given more balance in our industry.

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