Construction begins on first batch of nearly 500 residential units near OSU Airport

Why this matters

The commencement of construction on nearly 500 residential units near OSU Airport signals a noteworthy moment for multifamily development in secondary markets. For institutional investors and capital providers, this project underscores a continued appetite for residential assets outside of traditional gateway cities, reflecting a broader geographic diversification trend. The scale of the development suggests confidence in sustained housing demand in the area, likely driven by local employment growth and demographic shifts. From a capital-markets perspective, breaking ground on a large multifamily project amid tighter lending conditions indicates that financing remains accessible for well-positioned developments, albeit likely at more scrutinized underwriting standards. This move may also reflect a strategic pivot by developers and investors toward markets with more favorable supply-demand dynamics and potentially less pricing compression than overheated primary metros. Sector fundamentals for multifamily remain resilient, supported by persistent rental demand and constrained for-sale housing supply. However, the timing of this construction wave will be closely watched for its impact on local rental markets and absorption rates, which in turn will influence institutional risk assessments and capital allocation decisions in similar secondary locations.

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On the RET wire

• Disclosed multifamily deal value tracked in August 2026: $3.6B across 36 reported transactions. All Multifamily coverage →

Computed from Real Estate Trail’s own tracked coverage

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