Downtowns have turned into hot destinations for multifamily construction and may even have outpaced what demographics might have suggested.
An analysis of Yardi Matrix data by StorageCafe, which is a storage space marketplace that Yardi runs, suggests that southern states have taken a lead as "the country's major cities experienced a resurgence of apartment construction in their central neighborhoods over the last decade."
StorageCafe/Yardi looked at the hundred largest cities and ranked them by number of multifamily units delivered over the last ten years. The company found that "about 391K downtown apartments were built from 2013 to present day, representing 37% of the total inventory of multifamily units in those areas."
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