Economy increasing demand for apartment living in Louisville - WDRB 41 Louisville News

Economy increasing demand for apartment living in Louisville

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LOUISVILLE, Ky. (WDRB) -- The current economy has increased demand for apartment living in the Louisville area.

This is benefiting one locally owned company.

Deborah Charlton is the president of PMR, which manages 36 apartment complexes in several cities. That includes 13 in Louisville.

She says business is good.

"Unfortunately, due to the economy and the things that have happened, we have a lot of renters these days," says Charlton. "In July of 2011, we were 76% occupied here [at Mallgate Apartments]. Today we are 96% occupied, 98% leased."

PMR has 258 employees in seven cities, including 137 in Louisville

The apartment industry has become more attractive to investors, so PMR recently created a brokerage division.

Charlton says she and her business partner now have the ability to take a property to market.

"Combining the two allows it to be a one-stop shop. It allows it to be a seamless transaction where you can deal with one investor, one broker and one company."

PMR's home office is along Baxter Avenue in two historic properties.

It's a private company that's changing with the current economic realities.

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