Jun
21

Report: Pent Up Demand for This Type of CRE Asset

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“As concerns over affordability in the region loom and homebuyers increasingly come off the sidelines looking to buy, demand for new construction in the single family home market is on the rise.”

MIAMI—There’s plenty of talk about luxury condos,multifamily rentals and even affordable housing, but one developer is focused on another residential proposition: single-family homes. Central Communities just made a strategic Broward County Bet.

Central purchased a 33-acre infill site in Broward County for $7.1 million on which to build its newest single-family home community.  The wholly-owned affiliate and homebuilding division of 13th Floor Investments is fully approved to build 225 homes there.

“As concerns over affordability in the region loom and homebuyers increasingly come off the sidelines looking to buy, demand for new construction in the single family home market is on the rise,” Michael Nunziata, division president of Central, tells GlobeSt.com. “There are few communities to speak of that can provide new homes at attainable prices to those who live and work here.”…

Report: Pent Up Demand for This Type of CRE Asset

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