Multifamily construction rises in the Airport Area

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Orange County chart of the week1-23-17_COW_cropped

  • The growing local economy and jobs market has spurred multifamily development activity in the Airport Area, in particular to accommodate the increasing number of Millennials living in the area.
  • There are a total of 2,981 units under construction, with an additional 5,704 units approved for development and 1,895 units pending city approval.
  • The total number of units under construction and planned is more than double the number of existing units.

Source: JLL Research, City of Irvine Planning Department, City of Newport Beach Planning Department

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Visit our Orange County Research Group page for additional market insight: Orange County – Research

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