With homeownership rates continuing to drop, Brinkman Partners hopes to capitalize on millennials and boomers eschewing buying for a more temporal lifestyle.

The Fort Collins-based company has proposed building nearly 100 market-rate apartments on 2.89 acres at 3425 S. Shields St., replacing a boat and RV storage yard.

City staff is scheduled to review preliminary plans June 8.

With vacancy rates less than 2 percent and median rents for one-bedroom apartments at $1,157 and two-bedroom leases topping $1,400, Fort Collins is seeing a building boom in multifamily construction.

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