The big question in the Multi-family housing construction industry in the Southeastern Untied States, Orlando and Atlanta area, is the rush of apartment construction almost over, numbers from the U.S. Census Bureau and the Department of Housing and Urban Development and economists suggest the answer is, not any time soon.
“Although the number of new single-family homes starting construction dropped in January 2015, construction starts on multifamily structures with five or more units increased to 372,000, up more than 12% from December 2014, and 24.5% higher than 12 months ago, even as rental vacancies remained at their lowest level in more than two decades,” according to an economist from CoStar.
The multi-family apartment housing industry hasn’t grown much in the last couple of years and wasn’t overbuilt during the housing boom, construction is now on the rise to meet the rising demand of today’s market.
“Landlords will have more opportunities to meet the needs of these renters as they age,” said real estate economist Francis Yuen “Some renters will form families, potentially moving to suburban multifamily locations. A larger share of older households will be in the renter market.These are not the typical older households looking for senior housing units; these are middle-aged households who for whatever reason, such as lifestyle preferences or financial constraints, choose to rent rather than own.”
This has made the multi-family construction industry in Georgia and Florida is highly competitive, this includes new building and renovation of apartments, condominiums, hospitality and assisted living facilities. Today’s multi-family housing needs to be healthy, smart and all-inclusive, to keep up with the competition.
Partnering with the right construction group will not only keep your construction costs low while achieving a beautiful architectural design, they will ensure your project is a great success by displaying quality traits such as preparedness, flexibility and awareness.
SWET Construction Group is a full service company who understands the big picture and well as the small details. We have the experience and knowledge to handle large multi-family construction to a more modest dimensions. We take pride in our professionalism and innovative approach, we are known for our quick turn around on projects and being cost efficient.
SWET Construction Group is an industry leader in the construction and renovation of multi-family housing, apartments, condominiums and commercial building throughout the Southeastern United States, offering cost-effective plans, fast and attractive flooring, interior design services, drywall, metal framing, paint and waterproofing.