Housing projects aimed at accommodating extended families–where children, parents, and grandparents can all live under one roof–is becoming a growing real estate niche, The New York Times reports.
Multigenerational housing is particularly targeted to meet the needs of a growing immigrant population.
”Immigrants are a source of growing demand, and their household composition is different in fundamental ways from the domestic-born,” says Kermit Baker, chief economist of the American Institute of Architects.
In the San Francisco Bay Area, for example, the region has seen rapid growth in its multigenerational housing demand from immigrant populations, notes Cheryl O’Conner, government affairs consultant to the Building Industry Association of the Bay Area.
Full article at: “Multigenerational Housing Is a Real Estate Growth Niche,” The New York Times (April 22, 2011)
Other articles relating to the Sacramento and Placerville, CA. regions at:www.sierraproperties.com