The 10-year, post-recession building recovery is heading for a pause and possible pullback, lending and investment experts predicted Tuesday.
The panel told a local Urban Land Institute forum that next year may see a slowdown in lending commitments for apartments, offices, industrial and retail projects.
Gerry Veal, executive vice president at Pacific Western Bank, said hurricane recovery may draw labor and materials away from West Coast projects.
“Every 10 years something happens,,” Veal said, “so when is the shoe going to fall? We think we’ll be a little bit cautious.”