Philly is quickly gobbling up new apartment buildings: PlanPhilly

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Reporter Jon Geeting writes:

There’s been a lot of multi-family residential construction, mostly concentrated around greater Center City, over the past few years, and there is a lot of interest in the question of how fast all that new supply is being swallowed up.

plan-philly

JLL’s Lauren Gilchrist provides context on the low vacancies in Philadelphia.

“In terms of why the rate may be so low, see below. A lot of our newest, most high end product is upwards of 90% leased, with extraordinarily fast lease up rates.” Read more here.