Construction of multi family housing has been considered a gold mine for investors and landlords since the recession. With high occupancy rates and rent growth, the demand for apartments is greater than ever.
According to The State of the Nation’s Housing 2016 report from the Joint Center for Housing Studies, the share of household choosing to rent is the largest since the 1060’s. With over 9 million more people opting to rent than just a decade ago. It seems this number keeps growing.
Of course new construction and renovations are fueled by demand. Living in Southeastern United States, such as Miami, Orlando, Tampa, Jacksonville, to Atlanta, Georgia and South Carolina, are driving the development.
For example, Atlanta, Georgia is the pot of gold at the end of the rainbow, as one of the most active construction markets. Fueled by tremendous growth in jobs and many major companies moving to the Atlanta area such as Porsche, Mercedes-Benz, Home Depot, Coca-Cola Company, Delta Air Lines, and UPS, just to name a few.
“The Buckhead neighborhood, a more-established destination just north of the city’s downtown, has been booming in recent years, industry professionals say, according to an article in Multi-Family Executive.
Uptown/South End Charlotte, North Carolina is another area in high demand. In the 80’s this area was thought of as a “9 to 5” market. Workers drove into town at 9 and drove back to their homes in the suburbs at 5. But with a vibrant and walkable city, with attractive entertainment and retail, Millennials, baby boomers, and students are enjoying the benefits of apartment living in town.
SWET Construction Group is a full service company who understands the big picture and well as the latest trends. We have the experience and knowledge to handle large and small multi-family construction. We take pride in our professionalism and innovative approach, we are known for our quick turn around on projects and staying on budget.