How the Apartment Boom is Addressing the National Housing Shortage
One of the most significant problems facing the United States over the past few years—which was particularly exaggerated throughout the COVID-19 pandemic—is that there has been a notable housing shortage, especially in fast-growing metropolitan areas, such as Northern Georgia (which includes Atlanta, Gainesville, and other major cities).
Whenever a housing shortage persists, this creates a wide variety of problems for anyone looking to own or rent a house. When there are not enough homes for people to live in, costs will inevitably increase for all parties involved. This has caused many people to have limited housing options—a problem across nearly all income brackets.
Fortunately, the ‘luxury apartment boom’ has helped limit the adverse effects of this ongoing issue. Luxury apartments are generally considered apartments with bespoke features (such as pools, outdoor spaces, gyms, and more) and have become an increasingly popular option across the United States.
Within the city of Gainesville, Georgia, luxury apartment destinations such as Treesort have helped make it possible for people of all kinds to find resort-quality living options that still work within their budget. While there are still many things that will need to be done to address the ongoing national housing shortage, there is no denying that places like Treesort and many others have helped create a positive impact.
Let’s look at how these places have created remarkable community benefits.
1. Increased Population Density
Nearly every urban planner you will ever meet will agree that population density is key to community cohesion. With higher levels of population density, which new apartment complexes (contrary to single-family homes) provide, it becomes much easier for communities to establish shared resources, reduce their overall carbon footprint, and make it easier to develop effective and affordable infrastructure.
Higher levels of density can also have a beneficial impact on the overall cost of living. For example, suppose you have 100 people living in a one-acre area instead of 4 people living in a one-acre. In that case, the cost of acquiring and developing land can be significantly diluted. This is why most new residential builds, particularly in urban areas, have been multifamily units or entire apartment complexes.
According to the National Apartment Association, the United States needs at least 4.6 million additional apartments to be built by 2030. Otherwise, the nation will continue to face significant housing shortage issues. That’s why newly built apartments, especially in-demand luxury apartments, are considered a vital solution to a nationwide problem.
2. Transition to Mixed-Use Neighborhoods and Communities
Another recent real estate trend has been the ongoing transition from highly-zoned neighborhoods to mixed-used neighborhoods that effectively offer residents and members just about everything they could want. This marks a significant shift from urban planning philosophies of the mid-20th century, largely characterized by single-family units in distant suburbs (often only connected via highway) and business/industry concentrated in downtown neighborhoods.
The development of mixed-use communities has been remarkable—and these neighborhoods make sense. If someone can easily access their workplace, places to eat out, essential stores, and other desirable locations within 15 minutes, their quality of life will significantly improve. Gainesville, Georgia is an excellent example of a growing, mixed-use area where almost anything you could desire is readily within reach.
Additionally, as more Americans continue to pursue the work-from-home lifestyle, the demand for these living situations will increase even further.
3. Efficient Use of Resources
As suggested, the United States currently needs millions more places to live. This is especially true in counties that are growing well beyond the national average, such as Hall County, Georgia. According to the US Census, Hall County grew by 13.1% between 2010 and 2020. And between 1990 and 2020, the population more than doubled, expanding from about 95,000 to about 203,000.
In other words, Hall County—including one of its crown jewels, Gainesville—is a great example where it is abundantly clear more housing is needed. This forces developers and city planners to have to make an important decision. Do we increase the housing supply with single-family homes? Or do we increase the housing supply with apartment complexes, including at least some luxury ones?
In this situation, the choice is obvious. If you want to add an additional one thousand units to the housing stock, it will be much more affordable and much more efficient to create top-notch apartments that people actually want to live in. Treesort is an excellent example of a new apartment complex that can provide an incredible quality of life for its residents while also facilitating the natural growth of the city.
4. Community Benefits
The apartment model—as opposed to the single-family housing model—also makes it much easier for residents to access community benefits that would otherwise be out of reach. Most people living in a warm, southern state such as Georgia will likely want access to a pool. Of course, even relatively dedicated pool users will spend more than a few hours per week swimming, lounging, and relaxing. Creating a single high-quality pool that can be shared by dozens of (or more) people is much more productive and efficient than creating dozens of independent pools.
And this same logic can be applied to almost every other aspect of living. Take Treesort, for example. At Treesort, you will find countless amenities, including ample outdoor space, al fresco dining, a 24-hour fitness center, an expansive sun deck, a dog park, and so much more. These are all highly demanded, highly beneficial amenities that most people would otherwise be unable to access.
Conclusion
Ultimately, the best solution to the housing crisis will rely heavily on developing new apartments. Whether you are looking to live in Gainesville, Georgia, or anywhere else, the best option for your new home will likely be in a quality, newly-developed apartment complex.