Rapid Growth Puts Pressure on Filling Multifamily Demand

Mast says with so many apartments underway, it is hard to track the players without a scorecard.

DALLAS—Multifamily development in DFW has been especially robust during the last few years to accommodate the ongoing growth of 100,000-plus jobs each year. The number of apartments under development has drifted higher as the affordable homebuilding market has struggled to deliver product, according to a JLL research report on multifamily development in North Texas.

“Quite simply, we’ve been growing so fast it is difficult to meet new housing demand from that sector, given rising land and construction costs, especially at relatively close-in locations where the jobs are being created,” says Jorg Mast, senior vice president, JLL Capital Markets. “With so many apartments now under development, it is hard to keep track of the players without a scorecard.”