Posted May 29, 2019

Central Florida apartment building is red hot

Here's a fire no one is rushing to put out. 

It seems as if a new apartment project is proposed almost every day in the Orlando area, one of the hottest markets for multifamily construction in the U.S.

In the past few weeks, more than 1,000 new units have been added to the apartment pipeline in Central Florida where more than $3.6 billion in apartments either are proposed or under construction, according to Charlotte, North Carolina-based apartment research firm Real Data Inc. The roughly 1,500 new residents moving to the region each week are driving more apartment development.

“There’s such a huge demand," Duane Anderson, an investment associate with Marcus & Millichap Inc. (NYSE: MMI) in Orlando, who isn't involved with the apartment projects, previously told Orlando Business Journal.

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