Thanks to steady population growth and a booming national economy, 2018 proved beneficial for the Florida real estate market. According to the World Property Journal, Florida reported more closed sales, saw a rise in the median home price, and witnessed more listings than this time last year.
And it gets better. The past October marked 82 consecutive months of growth in median home prices. That means Florida hasn’t witnessed a dip in the housing market for more than six years.
However, home prices aren’t the only sign of strength in the Florida real estate market. Case in point: Apopka apartment complex Marden Ridge. These Class A apartments were established by NM Residential in 2016 when an Ohio developer set his sights on the Apopka and Maitland areas.
But NM Residential did more than just bring in luxury housing. They also created an estimated 1,000 construction jobs in the process and invested more than $100 million into both Class A apartments complexes.
Back in 2016, when NM Residential began this impressive endeavor, it was estimated that the U.S. construction market was worth around $1.1 trillion. Increasingly, real estate investors are looking beyond residential real estate and into student housing, senior living, and luxury apartment complexes like Marden Ridge.
The Class A apartments were designed to offer more than a comfortable home for tenants. As such, NM Residential strived to make space feel more like a hotel than an apartment complex.
To accomplish this, they started with the layout. The spacious units feature nine-foot-tall ceilings and ample size. According to their website, even single bedroom apartments can fit a king-sized bed. You can see the dedication to their craft from custom cabinetry down to the line-brushed nickel finishes in their showers.
In addition, this luxury apartment complex offers a suite of amenities for Central Florida residents. Their bread and butter rest in their expansive clubhouse, which features tanning beds, an in-house gym, a theater room, a pool table, iMacs, and even a Starbucks coffee bar.
It’s no wonder the Florida housing market has experienced more than six years of growth. Thanks to local businesses like these, central Florida has become a hub for new families, job growth, and community building.