What We Build
Garden, mid-rise, and podium communities across North Texas — with integrated financing that eliminates the gap conventional lenders leave.
Multifamily is one of Pereff’s core Real Estate Development practices — 1,000+ units delivered; HUD financing facilitation for qualifying projects, project- and sponsor-dependent; Pereff is not a lender. See our healthcare GC practice.
The real complexity
Multifamily development is the most capital-intensive vertical in commercial construction. A 100-unit community requires not just a capable GC — it requires a construction loan, a permanent financing commitment, an equity stack, and a team that understands how all of those pieces interact with the construction schedule and lease-up timeline. Most general contractors hand you a number and leave the financing to you. Pereff integrates the capital side with the build side. [Pereff Industry KB — verticals]
On the construction side, the critical decision is structure type. The gap between garden wood-frame and concrete podium is $100–$200/SF — and it must be driven by density targets, parking requirements, and the site itself. Pereff models structure type, parking strategy, and unit mix together in preconstruction because all three are interdependent. [Pereff Industry KB — verticals]
Conventional construction loans typically cover 65–75% of total project cost — leaving sponsors to raise 25–35% in equity before a shovel turns. For qualifying projects, Pereff’s integrated financing program can reach 90–99% loan-to-cost, with 40-year amortization and non-recourse structure.
Figures are directional and project-, sponsor-, and market-dependent. Not all projects qualify. Actual terms require full underwriting. Pereff is NOT a lender — we facilitate bank relationships for qualifying projects.
From structure type to capital stack — the decisions that determine whether a multifamily project pencils and delivers.
Structure type is the single biggest cost variable. Garden wood-frame $135–$210/SF; wrap and mid-rise $220–$290/SF; concrete podium $310–$420/SF. The right choice depends on site, density target, and financing program.
Studio, one-bed, two-bed, three-bed mix drives floor-plate efficiency, parking ratios, and amenity sizing. The mix determines structural bay spacing — lock it before design development.
DFW typically requires 1.5–2.0 spaces per unit. Structured parking adds $20,000–$35,000 per space and is the primary cost driver distinguishing garden-style from urban multifamily.
Resort-style pools, dog parks, coworking spaces, package lockers, and EV charging are increasingly standard in Class A DFW product. Amenity scope affects cost, marketability, and stabilization valuation.
Multifamily is the most finance-intensive vertical. Construction-to-permanent transition, LTC ratios, DSCR requirements, and equity structure are as critical to underwrite as the physical build.
Multifamily cost per SF and per door varies primarily by structure type. Anchors grounded in DFW market data, May 2026. Your number depends on structure type, site civil scope, amenity program, and unit finish tier.
Garden-style (wood-frame, 2–4 stories)
$135–$210/SF or $185K–$310K/door
Most cost-efficient multifamily product. Surface parking, typical amenity package, DFW suburban market. [multifamily cost data, 2026]
Wrap & mid-rise wood-frame
$220–$290/SF
Structured parking, tuck-under or wrap garage, higher density. Common in suburban urban cores (Frisco, Plano Legacy, Allen). [multifamily cost data, 2026]
Concrete podium / Type I
$310–$420/SF
Urban multifamily, cast-in-place concrete podium and upper floors. Higher density, premium submarket. [multifamily cost data, 2026]
Structure type drives $100–$200/SF spread
The gap between garden wood-frame and concrete podium is the single largest cost variable. Driven by density targets, parking requirements, and site constraints — get this right in feasibility.
Site civil, utilities & amenity package
Civil scope varies dramatically by site. Resort-style amenity packages add $500K–$2M+ to a typical community — both must be modeled in feasibility, not after land is under contract.
Unit finish tier vs. rent underwriting
Unit interiors — countertops, cabinetry, flooring, appliances — must match the rent underwriting. Class A lease-up product requires meaningfully higher finishes than workforce housing.
Parking ratio & structured deck cost
Every structured parking space costs $20,000–$35,000 before the building above it. High-density projects at 2:1 parking ratios can spend 20%+ of the construction budget on parking structures.
These ranges are directional, researched May 2026. Land, soft costs (architecture, engineering, permits, developer fees), financing carry, and FF&E are additional to the construction figures. A full development budget for a 100-unit garden community typically runs $32M–$45M+ all-in including land and soft costs. The real number comes from Pereff preconstruction. [multifamily cost data, 2026]
Schedule reality
Scale and structure type determine construction duration. Entitlements — zoning, site plan approval — are the most common source of project delay. [Pereff Industry KB — timelines]
Rezoning, PD amendments, and site plan approval timelines vary by municipality. In high-growth DFW suburbs, multifamily often faces the most community scrutiny. Start entitlements before design is complete.
Full civil, architectural, MEP, and structural takes longer than a simple TI. Design-build allows civil and foundation permits to be phased — civil can be permitted while building framing documents are still in progress.
Garden communities of 48–100 units: 10–14 months typical. Mid-rise and wrap: 14–18 months. Phased delivery can put first units in lease-up 6–8 months before last units complete.
Entitlements are the long pole.
The most common multifamily delay isn’t construction — it’s entitlements. Rezoning and site-plan approval in DFW’s high-growth suburbs can take 6–18 months. Start before finalizing design and financing.
Before we quote
Multifamily feasibility starts with construction cost but quickly becomes a financing and capital-stack conversation.
How many units, and what mix of studios, one-beds, two-beds, three-beds? Unit mix drives structural bay spacing, parking demand, and rent roll — all of which affect financing underwriting.
Garden wood-frame, mid-rise, or podium/wrap with structured parking? The single biggest cost variable — driven by density target, site size, and parking requirements.
What does the market demand, and what does your rent underwriting support? Resort-style pool and clubhouse, fitness center, dog park, coworking — amenities add cost and affect stabilization value.
Raw land, pad-ready, or entitled? Is zoning multifamily-permissive today? Entitlement status determines how much of the timeline is controllable.
When do you need first units delivering to market? Working backward determines what design and entitlement work must start now, and whether phased delivery makes sense.
What equity does the sponsor have? What LTC does the project need to pencil? What's the exit — hold, stabilize and refi, or sell at CO? These determine whether Pereff's integrated financing program fits.
Get a directional construction cost, a breakdown of the financing program, or an explanation of how LTC ratios affect your equity requirement — grounded in real data, cited.
Answers grounded in Pereff’s project data, DFW competitor intelligence, and current commercial construction benchmarks. Every answer cited.
Directional, May 2026: cost is driven primarily by structure type. Garden-style wood-frame runs $135–$210/SF (roughly $185K–$310K per door); wrap and mid-rise wood-frame $220–$290/SF; concrete podium $310–$420/SF. A 48-unit garden community in McKinney typically lands $11M–$15M in construction. Land, soft costs, financing carry, and FF&E are additional — a full development budget for a 100-unit garden community commonly runs $32M–$45M+ all-in. These are directional planning ranges subject to final preconstruction review. [multifamily cost data, 2026]
Construction typically runs 8–18 months depending on scale and structure type — garden communities of 48–100 units about 10–14 months, mid-rise and wrap 14–18 months. Phased delivery can put first units into lease-up 6–8 months before the last units complete. Entitlements (rezoning, site-plan approval) sit ahead of construction and are the most common source of delay, running 3–12+ months in high-growth DFW suburbs. [Pereff Industry KB — timelines]
Most general contractors hand you a construction number and leave the capital stack to you. Pereff integrates the financing side with the build side — modeling structure type, parking strategy, and unit mix together in preconstruction because all three are interdependent, and facilitating bank relationships so the project pencils. Conventional construction loans often cover only 65–75% of cost; for qualifying projects, Pereff's facilitated programs can reach higher loan-to-cost, closing the equity gap where multifamily projects typically die.
Pereff is not a lender. Pereff facilitates bank and agency relationships for qualifying projects as a value-add service. For qualifying sponsors and projects, facilitated programs can reach 90–99% loan-to-cost — including HUD-insured structures — with longer amortization and non-recourse terms. Figures are directional and project-, sponsor-, and market-dependent; not all projects qualify and actual terms require full underwriting by the lender.
Most multifamily projects require zoning that permits the density (or a rezoning / PD amendment), site-plan approval, civil and stormwater detention review, and a full building permit covering structural, MEP, and fire/life-safety. In high-growth DFW suburbs, multifamily often draws the most community scrutiny, so entitlements are the long pole — start them before design and financing are finalized. Pereff coordinates the entitlement and permitting process directly with the municipality. [permitting timeline data, 2026]
The earlier Pereff is involved, the more preconstruction can align construction cost, capital stack, and financing. Let’s talk before the site is under contract.
