Home Builders Turning to Multi-family as Rental Market Heats Up

Home Builders Turning to Multi-family as Rental Market Heats Up

Posted on 01. Feb, 2013 by in News

The rise in demand for apartments has made some of the nation’s largest public home builders allocate resources to building multi-family housing. “There is always a need for construction of multi-family, and it has always been an important part of the housing picture,” says Stuart Miller, CEO of Miami-based Lennar. Lennar currently has a development pipeline of over a billion dollars earmarked for multi-family and plans to build over 6500 units.

“This increase in new construction is congruous with the strength in market fundamentals – strong performance is serving as a catalyst for new development,” said Ryan Severino of Reis Inc.

Read More: http://www.cnbc.com/id/100407898

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