By Peter Fabris for Building Design + Construction – Despite higher construction costs and the paucity of premium sites in urban cores, the multifamily market-notably the market-rate and luxury rental sectors-remains strong. “As deals get harder to fund in first-tier cities, development is going to second-tier areas,” says Luis Arambula, Principal, Vice President of Architecture, MVE + Partners. Good sites in Los Angeles are limited, so investment has shifted to neighboring Orange County. Salt Lake City is an emerging market that bears watching, he adds.