Chapel Hill apartments are nearing full capacity, owners and town officials say, creating a demand for more housing that two new developments hope to satisfy.
Trinitas and Shortbread Lofts are both moving through Chapel Hill Town Council’s approval process. Both developments would be within a mile of campus, stand seven stories tall and concentrate on providing student housing.
Dwight Bassett, the town’s economic development officer, said because of its current economy and demographic, the Chapel Hill market demands the rental housing the developments could offer.
He said the town categorizes housing into four areas: for-sale, rental, workforce and low-income.
“Rental, workforce and low-income have a higher demand in this market climate,” Bassett said.
Bassett said the town does not track apartment occupancy rates, but several apartment complexes in Chapel Hill said they are nearly or completely full.
Warehouse Apartments on West Rosemary Street is currently at 100 percent occupancy, according to regional sales specialist Brett Bailey.
Bailey said the apartment complex is mostly rented by students and is occasionally overbooked. He said its proximity to campus is its most attractive amenity.
“We also get a lot of Greek life,” he said.