FORT WORTH, Texas — A newly-released study finds the Dallas-Fort Worth market is producing more new apartment units than New York and Seattle.
If you want to know where and when new apartments are popping up in Fort Worth, just ask Mike Brennan.
On Tuesday, he pointed out several ongoing or recently completed apartment complexes in the South Main Village area, including a 175-unit project through Alliance Residential that just broke ground and a 300-unit project called The Bowery that just opened.
Brennan, the president of Near Southside, Inc., has worked hard to bring multi-family living to the area south of downtown. All that work is making headlines.
"It's a remarkable story," Brennan said.
Research by Yardi Matrix, a real estate data company, shows the Dallas-Fort Worth region is expected to net 22,196 new apartment units this year, while Seattle will only produce 13,682 and New York City will produce 13,418.
Within the region, Fort Worth slightly edges out Dallas as the top apartment producer of 2019. Dallas is projected to produce 3,859 new units, while Fort Worth should have 3,875, according to Yardi Matrix.
MORE: View the full study
Doug Ressler of Yardi Matrix said he was not surprised.
"When you look at the employment situation in DFW, the business conditions, the very business friendly type of environment," he said.
He added that DFW has never been at the top of the pack in their apartment research until now, but he expects that first-place position to continue.
In Fort Worth's Near Southside alone, Brennan estimated there are 3,000 new apartment units either recently completed or in the pipeline in the coming years. He says about 5,000 will eventually live in them.
Brennan said they've always known there's pent-up demand for new apartments in Fort Worth.
"To see it at a rate that exceeds all other regions, and for us to be at the top of our regional competition, that's incredibly exciting," Brennan said.
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