Search
 

Aggressive Construction Aggravates Apartment Market

AUSTIN-Austin multifamily developers should follow the lead of the city's office developers and stop building, says M/PF Research. The state capital is ranked fifth in the nation for construction despite an occupancy drop in the past year.

By Tim Green | Updated on August 15, 2001

AUSTIN-Apartment builders are busily adding to the capital city’s apartment inventory with 12,194 units under construction, according to the new US Apartment Market Report from M/PF Research.

When those units are ready for tenants, they will increase the city’s base by 9.4%. Overall, Austin ranks fifth nationally in current apartment construction.

“If you were going to pick one market across the US where construction is too aggressive at this point, it’s Austin,” Greg Willett, the director of research products for Carrollton, TX-based M/PF Research, tells GlobeSt.com. Willett suggests that apartment developers follow the advice recently offered to Austin office developers: Stop building.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.