One of the hardest decisions multifamily developers and their design teams have to make is what mix of amenities they’re going to put into each project. A lot of squiggly factors go into that decision: the type of community (market-rate vs. affordable, for-sale, senior living, student housing, etc.), the geographic market, local recreation preferences (tennis court or putting green? bocce or billiards?), climate/weather conditions, physical parameters (availability and cost of land), and of course the budget. The permutations are mind-boggling.
Along with location and pricing, however, getting the amenity mix right is crucial to your marketing program and the ultimate success of your multifamily project. The worst thing that can happen is to install an amenity, especially an expensive one or one that takes up a lot of valuable space, and not have occupiers use it. What a waste!
It’s not only an out-of-pocket cost, it’s a lost opportunity: What other amenity would have been more popular with your renters or condominium buyers? And how much will it cost to fix the problem—if it can be fixed at all?
All this has been further complicated by the COVID-19 pandemic. Property managers across the country had to close fitness centers, pool decks, children’s playgrounds, game rooms, even business centers and lounges. Survey respondents said tenants were particularly vexed about losing the convenience of their workout spaces and swim spas, which also saved them the cost of buying an outside club membership.
342 developers, builders, and architects pinpoint the top multifamily amenities
To help you navigate this crisis, BD+C's sister publication, Multifamily Design+Construction, conducted a survey in February/March 2021 of 342 multifamily developers, builders, and architects about how amenities were affected by the COVID pandemic. The resulting 2021 Multifamily Amenities Report builds on surveys conducted in 2017 and 2019 and measures the responses of multifamily sector professionals to their use of 131 amenities—including a new one about “smart connectivity systems.”
One thing about respondents’ answers to the COVID question surprised me: more than half said they had made no changes to their amenities. For some, the work was so far along, they had to live with what they had. But others made it clear that they were going to weather the storm, no matter what. Changing their amenities mix was not on the agenda.
The other half did make changes—removing some amenities, pushing activities outdoors as much as possible. In some cases, the amenities could be modified fairly easily; for example, by putting plexiglass “shields” between pieces of workout equipment in the fitness center. These may have been temporary fixes in response to a crisis, but growing concerns about designing for occupiers’ health and wellness may turn them into permanent features of amenities packages in the future.
Thanks to our 2021 Multifamily Amenities Study sponsor: EXACOR™ | Huber Engineered Woods
The 2021 Multifamily Amenities Report ranks 131 amenities and features across 10 building areas:
• Top ‘smart connectivity’ systems
• Top 10 indoor amenities
• Top 10 outdoor amenities
• Top 10 recreation amenities
• Top 10 convenience services
• Top 10 quality of life amenities
• Top 10 business and technology services
• Top 10 security services
• Top children's services
• Top services for pets
• BONUS: COVID-19 impact on amenities
• BONUS: List of ‘first-time amenities’ for developers
For the full 16-page PDF report, visit: www.BDCnetwork.com/Amenities2021.
Related Stories
Multifamily Housing | Apr 26, 2022
Investment firm Blackstone makes $13 billion acquisition in student-housing sector
Blackstone Inc., a New York-based investment firm, has agreed to buy student-housing owner American Campus Communities Inc.
Mixed-Use | Apr 22, 2022
San Francisco replaces a waterfront parking lot with a new neighborhood
A parking lot on San Francisco’s waterfront is transforming into Mission Rock—a new neighborhood featuring rental units, offices, parks, open spaces, retail, and parking.
Multifamily Housing | Apr 20, 2022
A Frankfurt tower gives residents greenery-framed views
In Frankfurt, Germany, the 27-floor EDEN tower boasts an exterior “living wall system”: 186,000 plants that cover about 20 percent of the building’s facade.
Multifamily Housing | Apr 20, 2022
Prism Capital Partners' Avenue & Green luxury/affordable rental complex is 96% leased
The 232-unit rental property, in Woodbridge, N.J., has surpassed the 96 percent mark in leases.
Senior Living Design | Apr 19, 2022
Affordable housing for L.A. veterans and low-income seniors built on former parking lot site
The Howard and Irene Levine Senior Community, designed by KFA Architecture for Mercy Housing of California, provides badly needed housing for Los Angeles veterans and low-income seniors
Market Data | Apr 14, 2022
FMI 2022 construction spending forecast: 7% growth despite economic turmoil
Growth will be offset by inflation, supply chain snarls, a shortage of workers, project delays, and economic turmoil caused by international events such as the Russia-Ukraine war.
Wood | Apr 13, 2022
Mass timber: Multifamily’s next big building system
Mass timber construction experts offer advice on how to use prefabricated wood systems to help you reach for the heights with your next apartment or condominium project.
Codes and Standards | Apr 13, 2022
LEED multifamily properties fetch higher rents and sales premiums
LEED-certified multifamily properties consistently receive higher rents than non-certified rental complexes, according to a Cushman & Wakefield study of two decades of data on Class A multifamily assets with 50 units or more.
Multifamily Housing | Apr 7, 2022
Ken Soble Tower becomes world’s largest residential Passive House retrofit
The project team for the 18-story high-rise for seniors slashed the building’s greenhouse gas emissions by 94 percent and its heating energy demand by 91 percent.
