Not only is South Florida strong in upscale housing, other residential sectors are heating up as well. Turner Impact Capital principal and COO Dan Millman tells us that South Florida's going to continue to offer strong opportunities in workforce housing. "South Florida’s economy is expanding vigorously, led by strong job creation in its trade and construction sectors," he explains. "The demand for affordable rental housing in the area will continue to rise, and it's also critically important to preserve the workforce housing that's already there.”
The Turner Multifamily Impact Fund, which launched earlier this summer with plans to acquire and manage up to $1B in apartments, recently made its first acquisition in Florida: The Glen at Lauderhill, a 405-unit garden-style complex near Fort Lauderdale. The Fund plans to preserve the property for workforce housing, Dan says. “We have our eye on expanding our efforts to other multifamily properties across Florida.”
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