Rents in the southwestern suburbs increased by 13 percent, while rents in Anoka County climbed 9 percent. Only 1,100 of 2,800 new apartment units that were proposed in 1999 were actually built, primarily because of delays in gaining approval and other expansion issues, the report said. Some 2,200 new units are expected to be added in 2000, but vacancy rates are anticipated to remain around 1.5 percent to 2 percent. Anoka County has the lowest vacancy rate in the metro area at 0.9 percent. According to Towle, amenities such as on-site day care, concierge facilities, business centers, fitness centers and entertainment rooms are being included in many apartment projects.
Senior housing is one of the fastest growing segments of the market.
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