In order to satisfy the huge demand for homes for hired workers, rental duplexes are being build en masse in Wildwood, Florida. Dinerstein Companies is the developer in charge of the construction.
192 houses with fenced backyards and standalone garages will be built on a 75,000 sq m land plot. Future residents will be able to choose from one, two, and three-bedroom duplexes with a floor area of 64 to 134 sq m. Development of the entire community is scheduled for completion in fall 2024, but first tenants will receive the keys as early as in spring 2023.
The demand for rental homes in Florida continues to grow, as owning a house remains an unfeasible dream for many.
Brad Dinerstein, Managing Partner, Development and Design at Dinerstein Companies, notes that building new single-family houses for rent is an extremely promising niche. He expects migration from densely populated coastal areas to smaller, less expensive metropolitan areas to intensify, which means that developers and investors can be sure of long-term profits.