Downtowns have been revitalizing across the country in the last 10 years and even more in the south. A recent analysis conducted by StorageCafe ranked downtowns by the apartment growth they have seen in the last decade. And the top 10 featured Charlotte as seeing some of the largest growth in the form of new apartments.
We’ve certainly seen a revival of uptown in the past few years, with more and more individuals looking for the convenience of city living. Charlotte has added over 13,000 new apartments to uptown in the last ten years. Those 13,000 new units make up roughly 57% of the total existing uptown residences. And while that’s a large number construction is underway on 3,500 additional units.
There is a great deal of polarization when it comes to city living – some people love the hustle and bustle of the city center areas, while others prefer quieter neighborhoods a little further away. Despite the rapid development of suburban life, downtown living has never lost its appeal
To see which urban cores are brimming with new housing options, StorageCafe looked at the downtown areas of the country’s 100 largest cities. Then they ranked those cities based on the number of multifamily units delivered over the past 10 years. If you’ve paid any attention over the past few years you aren’t surprised Charlotte ranked so high-it seems new apartment construction is never-ending. Honestly, I feel like by the time the hotspot areas reach full construction no one is going to want to live in those areas! But I’m sure developers have done their research. I only wish the increase in supply would make my rent go down instead of up!
Apartment supply added in Charlotte:
- 2013: 110
- 2014: 590
- 2015: 1,883
- 2016: 1,671
- 2017: 1,165
- 2018: 1,365
- 2019: 2,104
- 2020: 1,325
- 2021: 1,325
- 2022: 395