 |
| Margaritaville Resort rendering, Hollywood, FL |
FORT LAUDERDALE, FL – Marcus & Millichap reports positive
trends in Broward County are sustaining low vacancy and generating increases in
monthly apartment rents.
Since the recovery began, employers have added jobs in each
of the past 14 quarters, and improvements in the single-family housing and
retail sectors will support additional payroll growth in the second half of
2013.
The county’s
demographic trends are also tilting favorably for the apartment sector. One of
the fastest growing segments of the local population is individuals aged 24
years to 29 years, a slice of the prime renter cohort.
Many younger residents will remain renters by choice in
order to relocate more easily within the region to pursue job opportunities —
an important consideration in South Florida, where daily commutes can be
problematic.
Large-scale development is also making a comeback in
Broward. Officials in Hollywood recently voted to allow developers to proceed
with the construction of the $147 million Margaritaville Resort.
The project, tentatively slated for completion in 2015, will
create the type of service sector positions that the rental housing market
relies on as a source of potential tenants.
Dedicated multifamily property investors and new capital are
entering the South Florida region and debt sources remain
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations
Manager
Marcus &
Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
(925) 953-1700 ext.
1716
(510) 999-1284 mobile
(925) 953-1710 fax
Follow us at http://www.Twitter.com/mmreis
No comments:
Post a Comment