The latest apartment survey published by Austin Investors Interests LLC indicates vacancies are growing substantially in that particular market segment.
New deliveries have pushed occupancy to 82 percent in the urban core, compared to 90 percent last quarter.
Consider this — in the past 12 months about 2,341 luxury units have delivered in a four-mile radius of downtown and more than double that are under construction in the same area.
Read more...Downtown Austin: flood of multifamily units in forecast via Real Estate Center at Texas A&M
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