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A new housing trend is growing in Wilmington and has tenants looking for beyond apartments – Starnewsonline.com

By james art No Comments #Garland
A new housing trend is growing in Wilmington and has tenants looking for beyond apartments – Starnewsonline.com

As the development continues in Wilmington and the demand for housing remains strong, a trend is gaining momentum both locally and throughout the country: rental communities.

The Wilmington area is home to over 4,000 Rent units, with nearly 2600 in the leasing stage, according to a Berkadia market report from Berkadia in 2024 from Berkadia.

“Wilmington is a growing market with a truly healthy university and a really healthy airport and great employment and (this is) an attractive place where people want to live,” said Caleb Troop, senior manager of Berkadia. “That’s why we continue to see these supports.”

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What is a Rent Construction Community?

Rent building community is a housing development, including professionally managed single -family homes or urban homes, or attached or separated, often with garages and back yards.

Often the amenities of the construction community communities are the same as offered in a traditional apartment complex, including dog parks, swimming pool, club house, gym and others, Troop said. However, the units themselves and the cost of the community differ.

“Construction of a rent can mean different things and may look different, but it is usually less tight, more excitement, (s) more selict than filling,” Troop said. “Usually (this) is a little larger (with a) the number of the lower unit (s) feels more soon as a suburban residential community.”

What drives demand on a local level?

While the growth of Rent-building communities was largely triggered by the Great Recession in 2008, the Covid-19 pandemic further displaced demand, which caused the offering to meet it.

Within the last three to five years, the trend of construction of construction has migrated through the solar belt from the west coast to the southeast, Troop said.

“This was really caught here in … a post -law world where people wanted a little more breathing room, they wanted a little more privacy (s) wanted a few more square footage because they worked from home,” said a soldier. “The tenants used their homes more, they still wanted to be tenants, but they wanted a larger space, more storage, a garage, etc.

The pandemic has also increased population growth in the southeast, Dr. Muhchin Gutabi, the Wilmington Regional Economist and Assistant Professor of North Carolina Wilmington University, told Starnews.

The migration of people in Wilmington, combined with the presence of relatively accessible land, compared to other large metro stations along the east coast, makes Wilmington a major market for rental development, Troop said.

While more people are tenants, high interest rates also push many to hire instead of buying. When asked about the impact of communities to build rent on housing opportunities in the area, Troop said it did not regard it as negative.

“If the demand wasn’t there, these developers would not build them,” Troop said. “If the demand for communities for rent … dry, some of them can be transformed into communities for sale and this is one of the beauties for the rental space.”

Related coverage: Nearly 300 apartments turned to Midtown Wilmington with provided construction

How many Rent Construction Communities are located in the Wilmington area?

Berkadia has provided a list of Rent Commons, located in Brunswick, New Hanover and Pender:

New Hanover County

  • Seaboard at Sidbury Station – 6105 Dichondra Drive, Wilmington. 113 single -family units built in 2023
  • Pinnacle Townhomes – 8764 Sandy Ridge Loop, Wilmington. 60 Townhomes, built in 2022
  • City Homes at Beau Rivage – 100 Beau Rivage Drive, Wilmington. 120 Townhomes built in 2018
  • Villas at Echo Farms – 309 Saint Annes Moor, Wilmington. 62 Townhomes, built in 2023
  • The villas in RiverLights – 406 Ledbury Road, Wilmington. 279 Cottage -style elements built in 2024
  • Banyan Silo Ridge – 24 Winnow Walk, Wilmington. 299 single -family units built in 2025
  • Hamlet Barclay West – 3152 S. 17th Street, Wilmington. 280 single -family units in the process of construction.
  • Hamlet in Barclay West II – 3152 S. 17th Street, Wilmington. 280 single -family units in the process of construction.

County

  • Heartsease in a shallot – 500 Seaforth Street, Shallotte. 83 Cottage style units built in 2022
  • Pines in Highland Forest Townhomes – 56 Highland Forest Circle, Shalot. 58 Townhomes built in 2016
  • Leland – 7521 Leland Station Drive, Leland. 120 Townhomes built in 2020
  • Jackie’s Ridge – 9102 Pine Notch Road, Leland. 59 single -family units built in 2023
  • Westgate – 2626 Goose Island Drive, Leland. 240 Townhomes, built in 2024
  • Landing in Stone’s chimney – 107 Little Doe Place SW, delivery. 121 single -family units built in 2024
  • Sore village – No address is provided. Leland. 35 Townhomes, built in 2023
  • Summer floodplays – W Gate Drive, Leland. 79 Townhomes, built in 2023
  • Townhomi Becklington – 1000 old Faithville, Leland. 132 Townhomes, built in 2023
  • Isabella’s courts – No address is provided. Leland. 169 Townhomes, built in 2023
  • Carolina – 1909 Boyton Way, Bolivia. 249 Townhomes, built in 2023
  • Cape Cottages – 2909Shoals indicated, Leland. 315 Cottage style units built in 2023
  • Hawthorne Waterside Willie – 7111 Rock Fish Lane Se, Leland. 159 Cottage style units built in 2022
  • Landing – 3021 Siskin Drive NW, Calabash. 198 Townhomes, built in 2024
  • Arboretum in the village of Brunswick – 4118 Hobblebush Drive, Leland. 104 Townhomes in the process of construction.
  • Leland Townhomes – 10000 Old Fayetteville Road, Leland. 254 Townhomes in the process of construction.
  • View of Jackey’s Creek – 2708 Tulip Street, Leland. 67 single -family units in the process of construction.

Pender County

  • The Reserve on the Blake Farm – 127 Edison Avenue, Wilmington. 240 Townhomes, built in 2022

Looking forward

Although the total number of units for building Wilmington is comparable to Raleigh’s, it has about 1000 more units currently in the leasing stage, according to the market report.

“The government leadership at Wilmington … () saw the obvious demand and need for additional homes, whether it is for sale or rent, and they accept within certain limits … So this is a little easier for developers and builders yes They come in and respond to the demand that is already there, “Troop said.

However, Wilmington has approximately 600 fewer units to build a rent that are currently being built compared to Raleigh.

Troop said the development of Rent Community development in Wilmington is likely to reach its peak over the next five years, with new supplies being reduced as a result of a slower than the expected growth of rents, increasing construction costs after carefree, shortage of labor , the tariff concerns and more.

“We will see what the future has, as it is related to some of those factors such as inflation and rental growth and interest rates,” Troop said.

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