D-FW is once again showing itself to be a powerhouse when it comes to new multifamily construction, with a recent report placing it No. 2 for expected unit delivery in 2025.
Some 28,958 units are anticipated this year in the Metroplex, putting the region only below the New York City metro area when it comes to apartments on deck. Comprising around 35% of Texas’ total multifamily construction, D-FW is expected to add more units than the Houston and San Antonio metro areas combined. It is also slated to produce more than entire states like Arizona and Georgia, according to RentCafe.
Population growth in North Texas has obviously driven the multifamily sector into a building boom, but affordability still manages to remain an issue in the area. New apartments have even been getting smaller as rents climbed over the last several years amid the state’s housing shortage.
Officials at the local and state level have been working to encourage more apartment construction to help meet the growing demand and curb rent hikes. Senate Bill 840, for instance, which goes into effect on September 1, allows developers to build multifamily or mixed-use on land that’s already zoned for commercial or light industrial use. And in Dallas, a new comprehensive land use plan coupled with a push to reform the zoning code seeks to go down the path of increased density as one solution to the housing shortage…