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Drucker + Falk On the Leading Edge of Richmond’s Apartment Boom Recently Featured in Richmond-Times Dispatch Article

Richmond, VA

According to a recent article in the Richmond Times-Dispatch, since 2000 more than 17,400 apartment units have been added to the Richmond region with an expectation of more than 3,000 units scheduled to hit the market in 2018, 2019 and 2020. Leading the recent multifamily housing boom is DF Multifamily, a business unit of Drucker + Falk and one of the nation’s leading property management companies. 

Currently the DF Multifamily manages over 6,800 apartments in the region and some of areas most prestigious communities, including 2000 West Creek, just 15 minutes from the bustling short pump area in downtown and Avia Apartment located in Short Pump.  Both communities are in featured in the article as is Andrew Chisholm, Director of Multifamily Management for DF Multifamily.

Chisholm states in the article that the meteoric rise in the Richmond multifamily market is due to “…a lot of empty nesters and individuals that are going to sell their house. The kids are off at school or grown and living elsewhere and they don’t want to deal with maintenance of the house and want the flexibility to be mobile and travel. Apartment living is also attractive to young professionals who want the flexibility to move.”

Wendy Drucker, Managing Partner with Drucker + Falk sees the exponential growth trend in the Richmond region. “The Richmond area is a hot market for multifamily construction right now and we see that trend continuing for the next few years.  We have a significant foothold in the market and our success here (Richmond) has allowed us to become a major player in the region”, Drucker adds, “We are proud of our on-site team’s performance and the level of returns we are able to provide to our property owners.”

Read the full Richmond Times-Dispatch article online or download it here.

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