Florida/Georgia/Carolinas, Construction of MultiFamily Housing
As the population in the Southeastern United States grows, Florida, Georgia, North and South Carolina, so does multi-family housing. Playing a significant role in maintaining affordable housing.
The shift in the economy has led to an increase in jobs in the metropolitan areas, creating a demand for apartment living. The urban population growth from 2000 -2010 has an increase of 25% over the national average.
New and updated apartments and multi-family housing are playing a vital role in the growth of our nation’s cities.
Statistics according to Apartment List
Multifamily properties have become increasingly important to our housing markets. In 1993, multifamily accounted for just 7 percent of new residential construction spending, but that share has increased by more than 2.5 times, to 18 percent in 2017. This increase is partially attributable to the nation’s growing share of renters.
Between 2005 and 2016, 91 percent of all newly formed households were renters, and renters currently occupy 87 percent of the units in multifamily properties.
Spending on multifamily construction totaled over $61 billion in 2017, which is nearly four times the amount spent in the post-recession trough of 2010. Multifamily makes up an increasingly large share of new construction spending. In 2017, multifamily housing made up 18 percent of all new residential construction spending, up from just 7 percent in 1993 when our data begins.
When it comes to construction or renovations of multi family housing, experience counts!
SWET Construction Group is a full service company who understands the big picture and well as the latest trends. We have the experience and knowledge to handle large and small multi-family construction. We take pride in our professionalism and innovative approach, we are known for our quality projects and staying on budget.
SWET Construction Group uses next generation process and products to produce housing at a reasonable cost. We ensure your project gets off the ground smoothly, remains on budget and is completed on schedule, and with superior quality.