For nearly five years, urban submarkets have seen a strong influx of rental property development, with massive high-rise apartments redefining skylines and revitalizing downtown neighborhoods which previously lacked upscale rentals. However, the cost of living in these neighborhoods has grown much faster than wages and the availability of jobs beyond cities has increased, motivating many real estate developers, including Western Rim Property Services Founder Marcus Hiles, to project a resurgence of movement in suburban submarkets throughout 2017. Hiles, as Texas’ leading developer of luxury apartments and townhomes, explains the current market trends driving this shift, and the rise of “new suburbia.”

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