The housing slump is driving more people to rent, and that points to an uptick in building rental units
By Hui-yong Yu
Bentall Kennedy, a Canadian real estate company, plans to break ground by June on a 654-unit luxury apartment complex in downtown Seattle. It’s a $ 200 million wager on rising demand for U.S. rental properties—spurred in part by the housing slump that’s driving people from their homes.
The complex will be the first apartments Bentall Kennedy has built in
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