NJBIZ / njbiz.com
Mill Creek, one of the largest multifamily builders in the country, has those plans as the Garden State continues to see a surge in apartment construction. And experts say the fundamentals are there to support continued demand at least over the next few years. “This cycle certainly has longer to run,” Jeffrey G. Otteau, president of Otteau Valuation Group in East Brunswick, said of the demand for rentals. That’s due largely to the high cost of homeownership, the slow pace of the state’s economic recovery and the growing preference for apartments among millennials and even empty-nester baby boomers.
