Garden Style Apartments Out of Vogue?

Axiometrics has an article (found via NAA’s Industry Insider) about the current trend towards high- and mid-rise apartment developments:

According to “Number of Multifamily Buildings Completed by Number of Floors: Built for Rent,” a section in the U.S. Census Bureau and the Department of Housing and Urban Development’s annual Survey of Construction, the number of apartment buildings with four or more stories is taking an increasingly larger share of the total completed in the national apartment market…

Source: Axiometrics

After ranging from 3% to 7% and averaging 4% from 1999-2007, the share of new apartment buildings of four or more stories increased to 9% from 2008-2011, with a 16% peak in 2010. The share increased from 10% in 2012 to 13% the next year and finished 2014 at 15%.

The share of buildings with 20 or more units also is increasing. Those properties averaged about 21% from 1999-2007 before climbing to 31% in 2008 and rising steadily to reach 47% by 2014…

Garden apartment projects, which typically average less than 20 units per building and once represented almost half of all rental buildings constructed, now comprise less than one-third of apartment construction.