The PennZone - The Economic Impact of Development

Trending...

Building luxury apartments will help stimulate the economy and fix the affordable housing crisis.

YORK, Pa. - PennZone -- Inch & Co Construction was named the number one growing company in PA in 2022, and they haven't slowed down since. They now have erected several multi-family units here in central PA, State College, Ohio, Maryland, and now even in North Carolina. However, those developments don't come without concerns from the communities where they are building in. However, there is information that supports the construction of multi-family units stimulating the economy, as well as creating more affordable housing.

According to Vicki Been, a New York University law professor and faculty director of the Furman Center for Real Estate and Urban Policy, "Adding supply either decreases rents or slow the growth of rents."

More on The PennZone

The creation of luxury multi-family units pushes those individuals with a larger housing budget into the new construction, and opens up the more affordable housing for those that need it.

Creating more housing, as well as opening up more affordable housing, creates more stability for those shifting into housing within their budget, which allows them all to circulate the local economy.

Looking ahead, continued investment in thoughtfully planned multi-family projects could help balance supply and demand in high-growth areas, ensuring communities have the housing diversity they need to thrive. When development is paired with smart infrastructure, community input, and long-term vision, it becomes more than construction. It's a catalyst for sustainable growth, resilience, and prosperity for generations to come.

Find out more information at Inch&Co Construction's website: Home (https://inchandcoconstruction.com/)

The Economic Impact of DevelopmentThe PennZone/10313588

The Economic Impact of Development
The PennZone/10313588