Having earned an MBA from the University of Chicago, Eugene Gorab is the President and CEO of Greenfield Partners, a private equity real estate firm. Dedicated to keeping his finger on the pulse of the real estate market, Eugene Gorab belongs to such organizations as the Pension Real Estate Association (PREA), a non-profit trade association that serves and educates the institutional real estate investment industry.
As part of its work, PREA regularly shares news regarding the real estate market, such as the 2021 report of the top cities in the United States where apartments are getting bigger. The report was created based on an analysis of RentCafé data on apartment buildings with at least 50 units in 92 cities around the country. In these areas, the square footage of projects under construction at the time were compared to completed projects from 2010 to 2020. According to the reports, over a third of cities that were studied were building bigger properties compared to the previous five years. On average, square footage in apartments rose by 48 square feet. This increase in square footage was seen in one-, two-, and three-bedroom apartments. The report noted that the city with the biggest growth in apartment size was Everett, Washington. In this city, apartment sizes grew by 267 square feet, on average, and had an overall average size of 928 square feet between 2016 and 2020. Kirkland, Washington showed the second-highest increase in apartment size, followed by Scottsdale, Arizona; Midland, Texas; and Fremont, California. This increase in average size is linked to the increase in remote work and, thus, rise in demand for at-home office space.
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AuthorCurrently, Eugene Gorab serves as the President and Chief Executive Officer of Greenfield Partners, LLC, a company he founded in 1997. Archives
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