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— Multifamily Properties Quarterly — April 2015

W

hat? …You don't have a

lazy river? There have been

numerous talks about the

“amenity wars” currently

underway in Denver’s

apartment world. Striking the right

balance of ameni-

ties at a commu-

nity should always

begin with business

basics. Striving to

top the most recent

property to come

on line may leave

your deal open to

great financial risk.

However, beginning

the project with

thorough due dili-

gence will ensure

long-term project

success. These

days, certain resident amenities are

perceived as must haves, and many

owners can feel compelled to check

the box as their laundry list of ame-

nities is generated. This approach

often bypasses the need to take a

hard look at the operating side of

the multifamily development coin.

Much of Denver’s recent apart-

ment production has been in the

A to A+ category, which has driven

a bigger-is-better attitude toward

development of resident amenities.

For designers, this can feel a lot like

the kid being left alone at the candy

store, where the notion of ever-

increasing rents drives over-the-top

solutions. While heavy amenities

can serve to create buzz, drive quick

absorption and put properties on the

map, they are only valuable if they

can be maintained with operational

costs that work in the big picture.

Additionally, it is imperative to have

the ability to be flexible and to evolve

as technology and lifestyles evolve.

(Remember the days of re-tasking

racquetball courts? Need I say more?)

Whether or not your project has a

sky-high budget for resident ameni-

ties, it may be helpful to look at how

a few recent projects sought to strike

that balance of being competitive

in the marketplace while not falling

into the mindset of bigger is better.

At The Logan, Forum Real Estate

Group kept its resident amenities on

par with the small size of the proj-

ect. Due west of the project, where

the view should be, is instead a

12-story office building that blocks

any mountain vistas. A second-level

outdoor gathering place was created

as a tranquil oasis with views toward

downtown. There is also a great view

of the state Capitol rising above the

heavily tree-lined streets leading

north from the property. On the hard

corner of Sixth Avenue and Logan

Street, a small community room that

opens to streetscaping along Logan

Street gets a lot of resident use – two

different spaces for different people.

A unique combination of a dog wash

and bike wash area rounds out the

inside amenities. Outside, the Gover-

nor’s Park location is the true ame-

nity that keeps the property at full

occupancy.

When Spanos was rethinking its

apartment community at Element

47, on the former site of Baby Doe’s

overlooking Elitch Gardens and

downtown, it became clear that leav-

ing some density on the table was

going to yield greater results. The

views of downtown are so dramatic

that all amenities are oriented in

that direction, allowing the program-

ming of the amenity spaces to be

scaled back compared to competing

properties with lesser views. The fit-

ness room is nice, but appropriately

sized. The gaming area is beautifully

furnished and provides large, expan-

sive views of the dramatic downtown

vista but also is not oversized. The

rooftop terrace is again modestly

sized, but the views are spectacular.

The point here is having the smarts

to recognize that bigger isn’t always

(and rarely is) better.

At Prasanna in Lafayette, Milestone

concentrates on fitness and finishes.

With a suburban-style community

of 240 units, the clubhouse of 5,000

square feet is not over the top in

size. What stands out is the 25-yard

lap pool with a full-length baja shelf,

a well-equipped fitness room and a

freestanding yoga studio. Addition-

ally, Milestone elected to invest in

high-end finishes in the community

building in lieu of a long list of resi-

dent amenities. The finishes budget

for the community building was well

over $500,000 and includes Architec-

tural Woodwork Institute premium

casework, recycled glass countertops,

and designer light fixtures imported

from Italy. The combination of solid

floor plans in modest buildings along

with above-average finishes in the

clubhouse has been a formula for

Milestone’s success.

With 200 units on 1.1 acres, The

Pauls Corp.’s Via Project, currently

under construction at Eighth Avenue

and Broadway, qualifies as high

density. There was an early decision

not to develop a rooftop amenity.

Instead, the focus was on the resi-

dent amenities on a second-floor

linear outdoor space defined by the

building’s massing. The exterior

deck area features a series of pools,

including a plunge pool, sunning

pool and spa, a grassy play area for

dogs, and numerous outdoor rooms

that generate interest and take full

advantage of the limited space avail-

able while providing for construc-

tion economies. Indoor amenities,

such as the clubroom, yoga and

spinning room, and exercise space,

all appropriately sized, connect with

and spill out to the exterior spaces.

The result is a resident experience

that ultimately lives large.

There is one common thread in

all of these examples – the notion

of scaling the resident ameni-

ties appropriately and not falling

into the trap that bigger is better.

Thoughtful research about the tar-

get demographic may yield solu-

tions that are less scattered and

more focused than providing all

things to all people. As the industry

learns more about what millennials

and empty nesters truly value, don’t

be surprised if you see future apart-

ment communities with a short,

well-defined list of appropriate

amenities and less opulent, flexible

spaces easily repurposed. Remem-

ber the mantra – bigger isn’t better,

better is better.

s

Amenity wars: Bigger isn’t better, better is better

Apartment Amenities

Bobby Long, AIA

Associate principal,

senior designer,

Kephart, Denver

Photo courtesy: Steve Hinds

The Logan features an outdoor gathering place with a view of the state Capitol.

Photo courtesy: Steve Hinds

All amenities at Element 47 are oriented toward the dramatic view of downtown.

Photo courtesy: Steve Lane

Prasanna in Lafayette features a 25-yard lap pool with a full-length baja shelf.