California Apartment Association

During a California Apartment Association event Thursday, a featured speaker predicted that growth  in commercial construction will bring a corresponding need for new housing in the Silicon Valley.

Larry Souza of the Johnson Souza Group offered that forecast during Tri-County’s annual economic and legislative summit, which nearly 200 members attended.

The Silicon Valley Business Journal covered portions of Outlook 2013, including Souza’s comments.

“My projections are we’ll reach the peak of the commercial real estate and business cycle by 2017 — and then probably be back in another recession,” he said,  according to the Business Journal story. Souza’s presentation also included this series of slides.

Joshua Howard, executive director of the California Apartment Association’s Tri-County Division, wished to thank attendees and especially the panel of industry leaders, including Anna Kramer, Michael Pierce and Corey Warren, who shared their thoughts on the rental market and the year ahead.

“One thing was apparent from the various panelists,” Howard said. “With job growth in the Bay Area predicted to continue, and new rental units coming online this year, it appears 2013 is a year of optimism and excitement for the local rental housing industry. However, CAA members need to remain engaged in the association as there are likely to be new taxes and laws proposed that directly impact the rental industry.”