Friday, February 10, 2012

Apartment construction boom under way in San Antonio via San Antonio Express-News

Rents are up, apartments are full, and developers are responding.

More than 4,000 new apartment units should hit the market in the San Antonio area this year, many of them with upscale amenities, as developers and investors respond to demographic trends and the difficulty that would-be first-time homebuyers are having qualifying for a mortgage loan.

Apartment construction slowed in the wake of the 2008 financial crisis. But the research firm Austin Investor Interests expects, conservatively, 10,000 new units will open in the San Antonio area in the next two years.

“The market weathered that financial storm pretty well,” said Janine Claycomb, research director of the San Antonio division of Austin Investor Interests. “We're in a good place.”

Read more...Apartment construction boom under way in San Antonio via San Antonio Express-News

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