April 24, 2024 8:59 pm
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COVID hasn’t deterred apartment development in the Valley

By AZRE | AZ Big Media

Despite COVID-19 and all that has happened in 2020, apartment development hasn’t been deterred as some thought it might be.

A little over 292,000 new market-rate apartments have gotten off the ground in the nation’s 150 largest markets in 2020. That wasn’t far off from annual volumes that hovered at a little more than 300,000 units during the previous five years.

Nearly 592,000 units were under way across the nation at the end of 3rd quarter 2020. Phoenix was one of the top performers in apartment development, with 17,215 of apartment starts in 2020.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.