Multifamily Design Trends
Halfway through 2017, and we have predicted and seen many new trends growing in commercial real estate in the multifamily sector. Many of these trends are updates in more personable designs for multifamily projects. Apartments are more specified and not set on a broad market segment. Some of these trends will stick, but not all trends are long-lasting. Below we will discuss a few of the new and upcoming trends.
Multifamily housing is becoming more and more design-oriented, an idea that starts with target markets. When brainstorming designs for apartments, the target market needs to be specified first and foremost. The demographics, such as age and area, need to be determined to allow for maximum buyer potential. If an apartment complex is going to be built by an elementary school and targeted toward young families, the size of the units need to be larger than for an apartment complex built for college students.
In many new multifamily buildings, designers are insisting on including lounges, clubhouses, fitness centers, etc. With these amenities, programs and easy access should be available for full utilization of the new space. Most apartment complexes are not concerned with community; however, recently residents are looking to bring that community feel into multifamily areas. By providing programs, such as fitness classes, a manager can allow residents to fully optimize not only their community, but the space provided to them which they are paying for. This will build an authentic community in which people want to live in, making the apartment complex more desirable.
In 2017, the internet and technology is a huge part of every person’s life. Because of this, commercial real estate isn’t the same as it used to be. As people spend more and more time using technology, the more they will long for human interaction and authenticity. People want unique details, originality, and localism to heighten their daily lives. Attention to detail is important. Localism is a great way to give people these personal touches. By providing either building materials or decorations, which are local or appeal to the area, people feel they are closer with the community. Recycled materials, such as recycled wood, are an easy and cheap way to provide personal design to multifamily homes.
As much as residents want community and personal touches, they also want great services. And no we’re not just talking about well-trained employees with killer customer service skills. We’re talking about the services available to them. People are constantly looking for ways to make their lives easier and it can be an easy upgrade for multifamily real estate. These services can include dog walking to housekeeping, people will pay to make their lives simpler. Parking garages and shuttles to shopping centers are also popular.
The latest trends in multifamily commercial real estate essentially focus on upgrading all apartment complexes. People aren’t just looking for a basic condo to rent anymore. Residents want a personalized space with a community, luxury services, and a great community. But that’s not too much to ask for, is it? Of course not! Interested in multifamily commercial real estate trends? Contact SVN | Southgate Realty, LLC to learn more.