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Multifamily

CBRE: Multifamily Construction Continues to Boom in Texas

The Lone Star State issued more than 63,000 permits for new apartment projects in 2014—more than 1.5 times the 15-year average.
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CBRE: Multifamily Construction Continues to Boom in Texas

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Billingsley Co.'s new Brickyard is among the new multifamily developments underway in North Texas.
Billingsley Co.’s Brickyard at Mercer is among the new multifamily developments underway in North Texas.

The Lone Star State issued more than 63,000 permits for new apartment projects in 2014—more than 1.5 times the 15-year average, according to a new report from CBRE. That makes it one of the strongest years for permit activity in Texas.

The state issued 9,170 permits for the first two months of 2015, besting 2014 (9,128 permits), 2013 (8,354 permits), and 2012 (5,662 permits).

Houston’s construction levels are expected to stabilize, CBRE reports, but North Texas should see continuing strong activity. There’s no slowdown in proposed projects across the state, indicating another banner year ahead.