Uptown Charlotte Hottest Submarket Nationally For Apartment Construction
Uptown/South End in the Charlotte metro has seen the fastest expansion of apartment construction among the nation's submarkets over the last four years, according to MPF Research. The submarket’s inventory growth rate since 2012 is 107.7%, or 8.8 percentage points higher than the No. 2 submarket, Frisco/Prosper, CA. The company's calculations include new apartment supply since 2012 plus units under construction in Q1 2016.
Uptown/South End has delivered 4,093 new apartments since 2012, with an additional 4,874 units under construction Q1 2016. Of those, 2,524 should be complete by the end of 2016, MPF reports. All units underway in Uptown/South End are market-rate housing units. [MPF]