Fresno real estate developers putting on their hard hats and getting to work

FRESNO, Calif. (KFSN) -- Empty plots of land in Fresno are now seeing a lot of activity, as construction crews start building apartments across the city.

Mike Prandini, Building Industry Association President and CEO said, "Interest rates are reasonable and because people are working, they can now afford, so the builders who build apartments see now as a good time to increase the inventory to attract more renters."

Major projects are coming along on Herndon and Willow, where 320 apartment homes are nearly completed on this 20 acre piece of land.

At the northwest corner of Shepherd and Willow, 255 units are going in along with retail.

The city is also happy to see infill happening.

Near Chestnut and Alluvial, 175 apartments and 30 single family homes are going in.

Granville Homes is building a new 162 unit community called Brookside off Millbrook and Nees.

"The economy is on a roar there's a great demand for apartments, especially in North Fresno," said Granville President Darius Assemi. "We want to fill The void that's created by a lack of inventory in the luxury end."

Granville hopes to have people moving in by the new year.

The City of Fresno has relaxed the development code to encourage builders.

"It is meeting the demand that tends to stabilize housing costs," said city spokesperson Mark Standriff. "When we see more apartments that are being available then the rental prices are not continuing the rise."

More buildings also mean more tax revenue for the city.

A majority of the developers we spoke with say they hope to have these projects completed and people living in these units sometime in 2019.
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