By Patrick O’Grady | Phoenix Business Journal
Apartments are big business in the Valley as numerous developers came in the wake of the Great Recession to build accommodations for those affected by foreclosures.
The places they were building, however, weren’t cheap, but they were plentiful. During the past few years, tens of thousands of apartments have been built in the region, and rents have been on the rise. Many of those complexes are much more exclusive, offering amenities and targeting millennial and empty-nest buyers.