Multifamily might seem to be an easy asset class in which to make your mark. After all, it is characterized by low vacancy rates, strong and unrelenting demand and, in many markets, a steady but not overly saturated supply. But don’t be deceived, this category comes with its challenges and they take a real pro to navigate. On the following pages we look at the individuals, groups and companies that have made a difference in the space. They have forged new strategies, executed on well-laid plans, entered new markets and introduced novel concepts. As the multifamily market continues to evolve, watch these influencers to see what they do—they will surely be leading the way.
TARA HOVEY has served as the president and COO of multifamily investment and development firm Optima Inc. since 2015, and has been integral in adapting the firm to the changing multifamily market. Under her leadership, Optima shifted to a long-term strategy and recapitalized existing developments in its portfolio. She was also integral in pioneering business suite and co-working platforms in luxury developments and has identified opportunities to convert commercial sites into mixed-use. Since joining the firm, she has led the capitalization and financing of more than $1.5 billion in construction financing for new developments. Now, she is once again forging a forward-looking path for the company with the announcement of a green-building design at its newest luxury condominium tower under construction in North Scottsdale that features a vertical landscape system, modular façade and efficient shading system and technologically advanced building materials. She serves as fellow of the Aspen Institute’s Henry Crown Fellowships and a member of the Aspen Global Leadership Network.
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