BUENA PARK, CA-Brandywine Homes has closed escrow on its latest multifamily development, a community of two-bedroom, single-level flats and two-story townhomes located on 1.1 acres on Knott Ave., just north of Orangethorpe Ave. here. The firm declined to name construction costs for the project, which is expected to be completed by next summer.

The new, 22-unit community will target couples and young families and it is expected to help address the shortage of affordable housing in Orange County, where apartment vacancy rates are low and rents in some areas are at historic highs, the firm reports. The units, designed by LSA Architecture, will be approximately 1,000 square feet and will include solid-surface granite countertops, refrigerators and washers and dryers. Common areas will include a tot lot and barbecue areas.

The Knott Ave. project is one of four apartment communities Brandywine is planning to build in the coming year. As GlobeSt.com reported in June, Brandywine recently broke ground on two projects in Garden Grove: a 25-unit project and a 34-unit rental community consisting of both townhomes and flats.

“With the economy improving, the demand for rental properties is stronger than it has been in years,” says Dave Barisic, VP of sales and marketing for Brandywine. “People who've been living with relatives or friends still may be reluctant to buy. But, increasingly, they're looking for their own place to rent.”

Brandywine's core business remains single-family homes, and the company expects to double its building of new homes over the next two years. The company started looking for infill locations for multifamily projects four years ago as a way to diversify its residential offerings.

“Building other types of product allows us to fill the needs of a different segment of the population, not just those who want to purchase a home,” says Brett Whitehead, president of Brandywine. “There is a strong demand for new rental housing throughout the long-established areas of Orange County.”