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It isn't shocking that residential or apartment REITs such as Colonial Properties or UDR have completely stopped developments for 2009. Of note here is that ProLogis, an industrial REIT is doing the same:

From Colonial Properties Trust Q408 conference call: (NYSE:CLP)

We are postponing our developments [in 2009].

From UDR Inc.’s Q408 conference call: (NYSE:UDR)

We do not have any planned acquisitions for 2009… we do not have any new construction starts planned for 2009.

From ProLogis Inc. Q408 conference call: (NYSE:PLD)

We halted virtually all new developments starts moving forward. We also stopped all early stage development, which resulted in a reduction in future funding obligations of $444 million.

Office REITs indicate only slowing development, so far. From Mack-Cali Realty Corp.'s Q408 conference call: (NYSE:CLI)

There are also fewer new deals in the market and based on volume, our 160,000 square feet of initial transactions is about 60% below our eight quarter average.

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Source: REITs That Have Stopped Dead in Their Tracks