For Multifamily Developers, Where Millennials Will Raise Families is the Billion-Dollar Question
Oct 10, 2016 |
Earlier this year, Millennials surpassed Baby Boomers as the nation’s largest living generation with 75.4 million people in the US between 18-34. Young people today like to rent apartments in urban, amenitized, transit-oriented areas. But the billion-dollar question for multifamily developers is: What will Millennials do tomorrow? That will be a major topic of conversation at Bisnow’s Multifamily Annual Conference on Oct. 20.
While DC is undergoing a multifamily supply boom, Toll Brothers Apartment Living managing director Charles Elliot says there still haven’t been enough two- and three-bedroom units delivered to meet a growing demand of young families looking to stay in urban apartments.
Charles, who will speak at BMAC, cites Toll Brothers’ Parc Riverside—a 287-unit apartment building in Washington, DC’s Capitol Riverfront neighborhood that will have 600 units after Phase 2 is completed—as a place where he is seeing increasing demand for larger units by young people starting families.
Read Full Article Located Here
Recent News
The time (at Blue Vault's 2nd Annual Broker Dealer Educational Summit) proved extremely informative.