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Page 18 — 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
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.