New Apartment Complexes Popping Up Across Town
CHARLOTTE, N.C. - David Cook has been a real estate broker for six years, and unlike most agents, Cook doesn't just sell homes. Cook says, "Helping a lot of relocation people find housing in Charlotte, and there weren't a lot of agents prepared or with the experience to do that."
Cook has his hands in the real estate market, because he says it keeps him busy all the time. "The vacancy rate is low, and rents are sky high, the rental market is hot, hot, hot," says Cook.
They're breaking ground on apartment complexes all across town, and that's because experts sau properties like this are in high demand. The Junction 1504 is a new apartment complex on South Boulevard. It has 281 units in eighteen buildings.
It's owned by a company nout of Texas called JLP, which is opening another complex in Elizabeth and one on Peidmont Row. That's an additional 562 units. JLP says they picked the Queen City because it's on the map as a rental hungry city. Cook says, "Right now, there isn't enough inventory to supply the demand so they're going to these large apartment community homes."