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From warehouse
conversions to newly constructed complexes to upscale townhouse
and condominiums, Downtown offers many housing options for its
expanding residential base.
The 1990 Census
counted 478 housing units within a one-mile radius of Downtown
Dallas.
Over 10,000 units
have been constructed in or near Downtown since 1990.
Based on continued
demand and a strong local economy, construction of an additional
3,000 units is underway or has been announced.
Many new apartments
and lofts in the Downtown area reach 60% to 90% of capacity within
90 days of opening. Average monthly rent in Downtown exceeds
$1,100 compared to $700 in the Dallas area.
According to the
North Central Texas Council of Governments, Downtown's residential
population is growing at a rate equal to suburban areas such as
Plano, Lewisville and McKinney.
Most new residents
cite a desire for an urban lifestyle, Downtown's central location
and proximity to jobs as chief reasons for living Downtown.
The median number
of years of Downtown residency is 2.5 years.
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