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Richardson specifically, but honestly most of DFW. Pretty much any apartment complex built in this area in the past 20 years is corporate owned. These days even
by vel0city 2y ago
Richardson specifically, but honestly most of DFW. Pretty much any apartment complex built in this area in the past 20 years is corporate owned. These days even a lot of the townhouses around are corporate owned rental units.
In fact, this area (and other places in Texas) has given rise to a new kind of apartment architecture called the "Texas Doughnut", which is a 5-over-1 apartment complex wrapping a central parking garage and often other courtyards in the middle. These things are everywhere in DFW. Just take a peek on Google Maps.
https://maps.app.goo.gl/KKHx47n7qooQCjNz9 https://maps.app.goo.gl/KKHx47n7qooQCjNz9
https://maps.app.goo.gl/uqwBGv3nRrTLfWvw7 https://maps.app.goo.gl/uqwBGv3nRrTLfWvw7
https://maps.app.goo.gl/SX9wNG1441xrWwBAA https://maps.app.goo.gl/SX9wNG1441xrWwBAA
https://maps.app.goo.gl/SL49yPkoA8VqE23F6 https://maps.app.goo.gl/SL49yPkoA8VqE23F6
https://maps.app.goo.gl/MEiqBnhMF8pQjGu36 https://maps.app.goo.gl/MEiqBnhMF8pQjGu36
But it is not just DFW. A lot of other cities in the US have similar things going on. It seems like most cities I'm in often have most new apartments I see be corporate owned units, not a lot of individual ownership.
- xp84 2y agoThanks! That's an interesting trend. I wonder if that is mainly due to high rates, making condo purchase less attractive to non-wealthy people than it was 5 years ago.