Multi-family housing, hospitality, and retail space, there’s no doubt about it, big construction projects are the newest trend! Orlando Florida is planing for over $500 million worth of new developments in the International Drive area and Atlanta Georgia is planning to change the curb appeal for the trendy Buckhead and Midtown areas with high-rise apartments and retail space. SWET Construction group is a leader in the industry for big construction projects, cutting edge building technology and the latest trends, don’t hesitate to call us 321-594-5569, for your next project.
The executive director of the International Drive Improvement District, Luann Brooks describes the latest trend for big construction projects this way,“The planned development and redevelopment signal an optimistic upturn in the economy. Exciting new attractions, accommodations, resorts, shopping, dining and commercial real estate development within Orlando’s tourist corridor will serve to attract new visitors to the destination and offer many reasons for our returning guests to visit.”
According to Atlanta Business Chronicle,” Rents and occupancy rates continue to rise even as new supply enters the marketplace. The occupancy rate during third quarter 2014 was 97.8 percent, and the average monthly rent was $1.63 per square foot, a year-over-year increase of almost 11 percent. While new developments account for some of the rent growth, many older Class A apartments also exhibited significant improvement. Robust apartment demand is evidenced by the lease-up velocity of new developments, which is strong in all submarkets and for all product types. High-profile apartment communities in Midtown and Buckhead have been well received, but so have developments in other areas of intown Atlanta. Intown Atlanta’s apartment market is on solid footing thanks to an expanding economy.”
Over the past couple of years larger construction projects have been on the rise. During the recession smaller projects prevailed and business weren’t investing in large-scale developments. Since the upswing economy of the economy, the need for multi-family housing, hospitality, retail space and large-scale renovations is dramatically increasing.
SWET Construction Group has seen a rise in both large-scale remodels and new builds in the Southeastern United States. Weather you’re planning to stay with your current building but need an up-dated remodel to stay up with the competition or starting from the ground up, SWET Construction Group we can help with both.