Three 17-Story Towers, 752 Units Proposed on Diocese of Monterey Land Along Highway 68 Under Builder’s Remedy
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- Disclosed multifamily deal value tracked in October 2026: $9.1B across 104 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
A builder's remedy application seeking 752 apartments in three 17-story towers on Diocese of Monterey land at Highway 68 and Laureles Grade is racing Monterey County's long-delayed housing element, with the outcome li…
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