Looking for some advice on a throwaway, anyone's input is very much appreciated.
Currently working in development in DC which is becoming an increasingly over-saturated development market, due both to the decreasing supply of land/infill sites and a city-wide zoning height limit. Foreign capital investment in the city is also at unprecedented levels, making deal investment at a reasonable basis increasingly difficult. I am also getting a little bored--the investment thesis for most blue chip developers in DC (buy near Metro, the primary train network) is exactly the same and does not lend itself to much creative investment strategy.
I've always been in love with the West Coast and want to get some market experience elsewhere. Targeting end of this year/early next year for a potential move. Does anyone have first-hand feedback on the future outlook of these two west coast markets, specifically for future development potential? Do they face the same barriers to entry for investors? Do you enjoy the challenges of investment in areas with limited transportation networks (ie, harder to pin down the exact investment "formula"?) Any other information for what I should expect or read up on would be great. I am obviously digging through west coast bisnow, CBRE research reports, etc. but nothing beats firsthand knowledge.