| Local apartment delivery is (finally) trying to meet demand. Developers completed 513 units in 3Q, raising the number of available rentals in the past year to 1,600, Marcus & Millichap?s Art Gering tells us. (The 276-unit Ashley Court at Pinnacle Point, above, was completed in 3Q.) More than 10,000 rental units are now planned in Charlotte, or about 10% of the existing stock. Yet none of the planned projects is scheduled to break ground. Still, the strong recovery of apartment demand may encourage developers to move projects forward, Art predicts. |
APARTMENTS STILL KING
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Art Gering
, Pinnacle Point
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