Multifamily Housing Has 5 Interesting Trends

High-rise multifamily housing is on the rise. Urban planning and design have seen some interesting trends in regard to multifamily housing. Here’s a quick look at some of these trends.

Affordable Luxury

Living in the midst of downtown of many metropolia is often expensive. To compete for high-end tenants, builders incorporate more luxury features such as infinity pools. However, there has been a growing need for luxurious affordable housing for the middle class. Many have been able to cut costs with micro-units around 250-350 sf.

Urban Lifestyle

Many Americans want to be right in the thick of the action. Urban planning and design have seen developers accommodate the needs of those seeking to live downtown. Residents choose to live in the heart of cities and towns with music, food and culture right outside their doors. With many things in walkable distance, residents can take advantage of public transportation and save money by not owning a car.

Green Leases

Green buildings may be a more affordable option in busy cities such as Boston and NYC. Signing a green lease allows tenants to live in a building with green things such as roof solar panels and soy-based insulation. With the energy-efficient systems, tenants may also save money on their utilities.

Technology Control

More and more tenants want the best amenities at an affordable cost. Many property management companies including technology into their amenities. However, with the constant innovation in technology, it can be expensive and difficult to keep pace. In response, many management companies have given over more control of the technology to their residents.

Better Amenities

The amenities game is changing in buildings with ever smaller square footage. Concierge services and common areas are becoming available in multifamily residences. These places give residents a place to work and interact with other residents.

Prospective residents now have more options with the changing trends of downtown lifestyles. Major metropolitan cities are working on ways to accommodate more and more residents with less space available.