by admin | Feb 12, 2016 | Market Data
The idea that the conventional, market-rate apartment market is anywhere near an affordability crisis—or that owning is cheaper than renting in many markets—is simply wrong.
Source: www.multifamilyexecutive.com
Is the apartment affordability concern overblown? The majority of new apartments being constructed in the US are geared toward the upper end of the luxury market. The questions remains on exactly how deep this market is.
Class C and B properties are by default a more affordable option. They are typically located, in good areas, but maybe not premier main and main spots. The also may not offer all the bells and whistles of their Class A cousins, but provide a relatively affordable option in lieu of the true costs of homeownership.
Time will ultimately tell if the homeownership rates shift back to more “normal” levels or if renting, and the mobility that comes with it, is the new norm.
by admin | Feb 12, 2016 | Market Data
An Atlanta developer will officially begin construction on a 23-story tower on North Franklin Street, directly north of the historic Kress building.
Source: www.bizjournals.com
Another apartment project has broken ground in downtown Tampa by the development firm Carter from Atlanta. The 23 story project will include 362 apartments and 8,000 square feet of retail. There are upwards of a dozen projects in various forms of planning or construction in the CBD which will dramatically change the residential landscape providing a wide variety of living options.
by admin | Feb 9, 2016 | Market Data
The long-awaited urban grocery store appears to be moving forward.
Source: www.bizjournals.com
The addition of a Publix grocery store to the Channel District is filling in a huge void the market has desired for years. Publix will be a significant draw for the area and should help backfill additional retail needs in the district making it more self sustaining for future residents.
by admin | Feb 9, 2016 | Market Data
the number of renter households aged 50 and over has increased dramatically, jumping from 10 to nearly 15 million, and accounting for more than half of all renter growth over the past decade
Source: housingperspectives.blogspot.com
While Millennials have captured headlines in the rental business, Baby Boomers are having a lasting impact.
The number of renter households aged 50 and over has increased dramatically, jumping from 10 to nearly 15 million, and accounting for more than half of all renter growth over the past decade.
Developers and owners are designing strategies to not only attract, but retain, this segment of the market which come with their own unique set of opportunities and challenges. The fact remains that the wave of boomers is upon us and they have needs which must be met and embraced by the industry.
by admin | Feb 9, 2016 | Market Data
In a market with an onslaught of new rental units, Florida Crystals is hoping to draw some attention to its project by asking the surrounding neighborhood to name it.
Source: www.bizjournals.com
FCI Residential, will hold a naming party on Feb. 25 to name the 300-unit complex rising along Kennedy Boulevard between North 11th and 12th streets.
Vertica Partners represented the seller of the property to FCI and has sold more land in the Channel District than any other brokerage since the district’s inception.
