How COVID Driven Migration is Driving Demand for Multifamily Projects

by Shawna Wright-Smith

Open for Investment

Hamlet Avalon Park - Build-to-Rent is a Build-to-Rent real estate investment opportunity offered on the CrowdStreet Marketplace

Hamlet Avalon Park in Wesley Chapel, FL, is a 260-unit build-to-rent community in Tampa’s top suburb, part of the master-planned Avalon Park. CS members can invest in an unpromoted General Partnership position, five months into construction (begun Sept. 2024), mitigating key development risks.

Build-to-Rent Opportunistic

In our June 2021 livestream, Director of Investments Anna-Marie Allander Lieb explained how COVID migration patterns have created strong demand for multifamily projects in new markets. With many people taking advantage of remote work, we saw a mass migration into Tier III cities such as Salt Lake City, UT, and Charlotte, NC, leading to a 6% increase in rent growth. This rent growth, coupled with strong employment growth and lower costs of living, means Tier III cities are providing unique multifamily investment opportunities.

Learn more about our outlook for multifamily real estate in our CRE Market Outlook.

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