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Wednesday, March 13, 2002 The facts about apartments By Eddie
Lusher, President
People in the building industry know that multifamily housing has a significant image problem. That is why the National Association of Home Builders (NAHB) and the Home Builders Association of Midwest Georgia are committed to debunking the myths and misconceptions associated with new apartment development that often play into the "not-in-my-backyard" syndrome. Many people, including many public officials believe that apartments negatively impact both local schools and the property values of surrounding single-family homes. Neither of these scenarios is true, according to NAHB research. Although it is true that the number of school-aged children varies by housing type (especially the number of units in the structure), it is not true that apartments impact schools more drastically than other housing types. The reason? Simply put, fewer children live in apartments than in other types of homes. According to data from the U.S. Census Bureau, there are about 55 school-age children (ages five through 18) for every 100 households in the United States. The same data show that slightly less than 37 school-aged children per 100 live in apartments. The number of school-aged children tends to be even lower in larger apartment buildings less than 29 school-aged children per hundred units in buildings with at least 20 apartments. Another commonly held notion about new multifamily development is that it will reduce the value of surrounding property, particularly single-family homes. According to NAHB research, however, there is no evidence to support such an idea. NAHB's research indicates that between 1987 and 1999, single-family homes that were located near apartments in 1987 actually appreciated at a somewhat higher rate than single-family homes that were not near apartments. This was true whether the nearby multifamily buildings were low-rise, or mid- or high-rises. Here's another fact that most people don't know: New apartment development has an immediate and long-lasting effect on a community's prosperity. According to NAHB's economic research, the construction of 100 new apartments in the average city results in 122 new jobs, $579,000 in local taxes and fees, and $5.2 million in local income generated by workers and businesses. The on-going, annual effect of 100 new apartment households in a local economy is 46 local jobs, $308,000 in local taxes and fees, and $1.8 million in local wages and business receipts. NAHB's research also shows that apartments serve a broad and diverse market, ranging from young professionals establishing new households to empty nesters who want convenience and flexibility to senior citizens looking for service-enriched communities. Equally important, multifamily housing is often the first step on the housing ladder for working families There's more good news. Today's apartment communities offer residents more space and amenities than ever before and are managed by professional companies dedicated to customer service. Today's apartment renters (30 percent of whom earn more than $50,000 a year) care about having quality housing choices that offer an attractive financial and lifestyle option. We are living at a time when more than a million new households are being formed annually. America's home builders will have to construct between 1.3 and 1.5 million new housing units just to meet the underlying demand for shelter during the next decade. Many of these housing units must be in apartment communities if we are to meet the needs of consumers and fulfill the public's mandate to "grow smarter." Every community needs good multifamily housing. Luckily, good multifamily housing is also good for every community. Eddie Lusher, who is with Jerry Ballard Homes, is president of the Home Builders Association of Midwest Georgia, which serves a membership of approximately 460 builders and associate members in Fayette, Coweta, Spalding, Heard and Meriwether counties.
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