Vacancies down, rents up as demand for apartments grows
The Hawthorne at Murrayville may be filling a void in the supply of rental apartments amid growing demand in the Wilmington area.The complex is adding 156 units and a clubhouse, said Ed Harrington, principal of the owner, Greensboro-based Hawthorne Residential Partners.There are 48 existing apartments, originally built as condominiums but never sold, he said. And they are full."The rental marketplace is improving," he said, and there’s no new construction on the board in New Hanover that we are aware of."There’s a limited supply and demand is growing."
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