Micro-units vs. family units: What investors need to understand about affordable housing
Much of the focus of the apartment industry today is on serving the growing millennial market — primarily single residents between the ages of 18 and 34. Certainly, considerable demand exists in this market niche. But the investment community as a whole is largely ignoring a tremendous opportunity: the demand for large, family apartment units.
The world may see micro-units as the latest fad in hip living, but both money and a social impact can be made by providing families throughout the United States with quality, well-sized homes they can afford.
As CEO of Avanath Capital Management, my favorite task, without question, is walking our communities with my on-site colleagues to gain a better understanding of our residents and their needs and, more important, their aspirations. And as I walk our properties, I see families and older residents. Avanath owns and manages Low Income Housing Tax Credit, Section 8 and other affordable apartment communities in major urban and