Developers Responding To High Demand For Rentals

With the condo craze mostly played out, developers in New Jersey are starting to build new for-rent apartments to meet the increasing market demand.

1 minute read

July 31, 2006, 8:00 AM PDT

By Christian Madera @http://www.twitter.com/cpmadera

With condominium construction occupying center stage in most developer's portfolios in anti-sprawl New Jersey, rental properties have largely been ignored.

"Now, it seems, rental apartment buildings are emerging from wallflower status and may be headed for a stint as prom queen."

"In affluent Saddle Brook, in Bergen County, the Value Group is building nearly 200 rental units in the downtown area, where rentals have been virtually unknown."

Thanks to Debra Varnado

Read the full story: For Rent: The Hottest Form of Housing

Sunday, July 30, 2006 in The New York Times

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