Apartment in Dallas – Enormous Alternatives of Apartments which unfortunately Agree with your Quality of life

Thursday, April 7th, 2011 at 2:54 am  
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North Texas apartment building takes off | Dallas-Fort Worth

Wednesday, March 30th, 2011 at 1:43 pm  
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North Texas apartment building takes off

VERNON BRYANT/Staff Photographer
During the last six months, builders have started more than 3,200 apartments in the Dallas-Fort Worth area.

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By STEVE BROWN

Real Estate Editor

stevebrown@dallasnews.com

Published 30 March 2011 11:17 AM

With rents rising and vacancy rates drifting lower, apartment developers are ramping up construction in North Texas.

During the last six months, builders have started more than 3,200 apartments in the Dallas-Fort Worth area. And analysts are increasing their forecast for this year’s apartment building.

“Construction is kicking up a little bit faster than we thought it would,” Greg Willett, a vice president with apartment analyst MPF Research, said Wednesday. “My new expectation is we will start 8,000 to 10,000 units here this year.”

MPF Research had previously forecast that apartment starts in North Texas would range from about 5,000 to 7,000 units in 2011.

But demand for rental homes continues to grow.

“People are not buying as many homes at this point given what’s going on there in the market,” Willett said.

During the first quarter, apartment landlords leased an additional 1,750 units in the D-FW area. That pushed vacancy rates below 9 percent. Rents were up almost 3 percent from a year ago to an average of $770.

Willett said apartment landlords have focused on keeping tenants while ratcheting up the monthly rent.

“Operators had to focus their attention on resident retention among a group of renters vulnerable to pricing sticker shock at renewal time,” he said.

Vacancy rates are lowest in the newer, high-end apartments built in markets including Plano, Las Colinas and Frisco — 5 percent or less empty, according to MPF Research.

About 5,000 apartments are under construction in the D-FW area, and 20 projects have begun in the last six months. But most of the apartment developments getting under way are smaller than in previous years, Willett said.

“Financing sources are willing to green light new apartment projects in North Texas, but you can tell we’re not quite back to business as usual by the comparatively small sizes of most of the properties getting started,” he said. 

Apartment construction still remains well below where it was at the top of the market in 2009, when more than 18,000 units opened.

via dallasnews.com

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Tuesday, March 15th, 2011 at 6:23 pm  
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    Grate Rental Living in Apartment Fort Worth | Apartment For Rent Fort Worth

    Monday, January 4th, 2010 at 4:04 pm  
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    Dallas Fort Worth Apartment Locating Service becoming the Favorite among Apartment complexes.

    Thursday, November 19th, 2009 at 6:27 pm  
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