According to the latest research by the National Apartment Association and the National Multifamily Housing Council, to meet the rising demand for multifamily housing, approximately 4.3 million new units will be necessary by 2035.
“The lack of available housing is holding our country back. Whether it is a multifamily residence, duplex or single-family home, we need a massive supply of new for sale and rental homes—including millions of new apartments by 2035,” said NMHC President and CEO Doug Bibby. “Making sure everyone has access to quality, affordable housing is a bipartisan issue, and the industry stands ready to do its part to help create the 4.3 million new apartment homes our country needs.”
This need for new multifamily housing and renovations of existing multifamily housing is especially true in many cities in Florida, such as Orlando, Tampa, Jacksonville, Gainesville, Miami, Ft Lauderdale, Ft Myers.
“The U.S. has undergone tremendously difficult conditions that have fundamentally altered our nation’s demographics, but one thing remains certain—there is a need and demand for more rental housing,” said NAA President and CEO Bob Pinnegar. “Put simply, we do not have enough housing. The US must build 3.7 million new apartments just to meet future demand, on top of a 600,000 unit deficit and loss of 4.7 million affordable apartment homes. It is time to reverse course after decades of underbuilding, and instead pursue responsible and sustainable policies that will not only meet this demand but address the missing middle and loss of affordable housing stock.
Today’s construction of multi-family housing is becoming healthier, smarter and all-inclusive. 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.
Ensuring your multifamily housing looks attractive and is keeping up with all the latest trends, you need a construction group you can count on. As a leader in the industry, SWET Construction has the experience and know how to keep you a step above the competition.
Contact SWET Construction Group for your next renovation or construction project.