Being part of the evolving South Florida market is one of the most exciting and interesting parts of working in construction. We get to play an active role in improving our communities as we build new places and new spaces to make the lives of our neighbors better.
One area of community change that we’re witnessing right now is in the multi-family unit housing sector. You may have seen it too if you live in the area. All along the Dixie Corridor – from the Grove down to Cutler Bay and right off US1 we are seeing a wave of multi-family apartments being built. Most of these are smaller, one or two bedroom units that appeal to renters, but they are less desirable to growing families who need more space.
To fill the gap in this market, some developers are taking a different approach to the smaller multi-family apartment. These developers are building townhome communities for renters, which offers them more space for their larger families as well as a front and/or backyard of their own.
The Three-bedroom Townhome Rental
Currently there are not many rental options for the three-bedroom townhouse, so there is a great opportunity for developers to capitalize here.
Even though larger units mean there is less space when it comes to the number of units they can build overall, developers are finding that they can ask for more money per three-bedroom townhome since they are offering a unique product.
Moreover, townhome rental developments offer greater flexibility if the developers or property owners choose to switch the townhouse to a sale property down the road.
Building for Tomorrow
COVID has changed the way we live, and for many that means a need for more space in our homes. Three-bedroom townhome rentals fill a gap in this market by offering families an alternative to smaller apartment units.
Multi-unit housing will always be in demand in South Florida, and it pays to partner with an experienced general contractor who knows the ins and outs of building in this market. For questions as you consider your next development project, get in touch with our team at Seacoast Construction.
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