When most think of ways to stir the economy, their minds don’t always jump straight to the apartment industry. However, renting your space has a hugely positive influence on the economy, improving everything from spending to employment. And best of all, renting is a more viable option for many, meaning everyone can contribute just by choosing to rent.
Last year, The National Multifamily Housing Council (NMHC) worked with the National Apartment Association (NAA) to compile data and research on the performance of the apartment industry in 2011. Much of this research was gathered by Stephen S. Fuller, Ph. D., a professor at George Mason University, neighbors to Arcadia Run. This report was one of the first of its kind and fully detailed the industry as a whole and its impact on a national level.
The report concluded that in 2011, the “apartment industry and its 35 million residents generated an economic contribution of $1.1 trillion to the national economy and supported 25.4 million jobs.” Best of all, these overwhelming numbers are only set to grow as the industry grows, strengthening its effect on the economy.
A new interactive campaign coordinated by WeAreApartments.org goes into further detail about how individual markets contribute to the overall economy. In Virginia, home to Arcadia Run, there are nearly 920,000 residents living in 493,200 apartments. These residents and their apartments support over 750,000 jobs and contribute $31.6 billion to the state’s economy.
So yes, renters do carry their share when contributing to economic recovery. And it’s quite a significant share if you ask us! For many, renting just makes sense, and with Arcadia Run, there’s no better choice than one of our luxury apartments!
The available apartments at Arcadia Run are everything you’d expect to find in an upscale, newly built multifamily community. Each unit is spacious with tall ceilings and extended windows – some even feature walk-in closets. All apartments come standard with new carpeting, granite kitchen countertops and designer cabinets, things that may be considered ‘extra’ in other apartment developments. And, available in various floor plans with either one or two bedrooms, these apartments are ideal for a fresh start.
But it’s not only the apartments that draw families to Arcadia Run. The amenities and community culture help to make Arcadia Run one of the most extensive and well-rounded developments in Manassas. This year, we will be building a resort-style swimming pool, brand new fitness center, ball courts and playground all for residents to enjoy. Family events, like fall festivals and holiday parties, as well as activities going on in Manassas, allow residents to mingle with their neighbors and create lasting friendships. Having all of this and contributing to the improving economy in a big way – does it get any better than Arcadia Run?
Source: National Multifamily Housing Council, WeAreApartments.org