Ken Bleakly of Bleakly Advisory Group recently briefed the Alpharetta City Council about the city’s recent shifts in rental real estate trends and their impact. Bleakly Advisory Group has a long and successful track record consulting on real estate development matters for cities throughout the Southeast, including Alpharetta.
In 2014, Bleakly Advisory Group studied Alpharetta’s rental housing inventory and policies in the city, which has seen a surge in apartment development recently. A resulting new policy for Alpharetta set to maintain a balanced citywide housing inventory of 32% renter-occupied housing and 68% owner-occupied housing.
At the recent meeting, Ken Bleakly briefed the Alpharetta City Council on several important shifts in the regional renting housing market:
- Seniors and active adults are seizing a much larger share of the city's multifamily housing market than ever before, with 1,500 units either built or in the development pipeline.
- The rental housing market is becoming much more diversified – for-rent single-family homes and townhomes now make up 26% of Alpharetta’s housing inventory.
These trends are happening throughout Atlanta region’s housing markets, and they are likely to have an interesting impact on our local economies and communities.