Marcus Hiles - Declares That 60% of Millennials Consider to Live in the Suburbs

Hiles maintains that youths will continue to revitalize communities across the U.S., permanently reshaping the patterns of American life.

As reported by Forbes, Millennials – the generation cohort defined as individuals age 18 through 34 as of 2015 - had by the end of 2016 exceeded Baby Boomers as America’s largest population group. Often thought to be a group that would live in cities for decades to come, eschewing the features of suburban living that largely appealed to their parents, Texas real estate expert Marcus Hiles points to mounting evidence that, as they begin to age, the majority of these individuals will become suburbanites, just as the generation before them. Hiles maintains that these youths will, however, continue to revitalize communities across the U.S., permanently reshaping the patterns of American life.

For decades, small suburban towns built on manufacturing, education and other services epitomized the American Dream. Now, many of these towns are changing rapidly to meet the needs of a strengthening consumer market with unique living and spending habits. Population growth rates in communities outside of cities such as Dallas, Austin, Charlotte, Atlanta, San Antonio, Houston, Denver, Nashville and Portland are already exceeding those of their urban counterparts as new, transit oriented developments are erected. In December, the Urban Land Institute reported that, “contrary to popular perception and most media attention, three-quarters of 25 to 34 year olds in the 50 largest metro areas live in the suburbs.” Deserving attention, noted Hiles, is Millenials’ preference to continue to rent as they leave the city. Across the country, upscale apartments are being constructed at an astonishing rate, transforming old manufacturing sites and undeveloped acres into luxurious living spaces flush with amenities.

Following the comprehensive, high end design model established by Marcus Hiles’ Western Rim properties, these suburban communities offer apartment hunters what urban life can’t while retaining its perks: lower taxes, better schools, convenient public transit, more square feet per dollar, diverse retail, dining and entertainment options, and walkable downtowns without the hassle of city traffic. To further attract young professionals, abundant amenities, including private spas, gyms, theaters and lounges accompanied by maintenance, security and complete lifestyle services, increase both the convenience and quality of life of residents. As a result, these luxury properties are leasing quickly, spurring further development and rejuvenating neglected towns with a young, educated workforce. Dowell Myers, an urban planning professor at the University of Southern California, reported to Fortune that, thanks to these innovative developments, as Millenials start families and acquire more established careers, their presence in cities “will be evaporating through our fingers.”

Marcus Hiles is an esteemed real estate investor and the CEO of Western Rim Property Services. Early in his career, Hiles recognized an unmet demand for luxury living options appointed with state of the art amenities. To fill that void, in 1988 he founded Western Rim Property Services, which has subsequently grown to be Texas’ leading developer of upscale rental communities, with over 15,000 townhomes and apartments located throughout the state.

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