CREJ

Page 22

— Multifamily Properties Quarterly — February 2017

Design Trends

HOW WE DO IT:

artnerships! We believe our relationships with

our staff, clients, subcontractors, vendors and

the communities in which we live and work are

our most valuable asset. A relationship becomes a

partnership when all stakeholders are focused on

creating win-win solutions resulting in successful

outcomes for everyone.

WHY WE DO IT:

verything we do incorporates our Core Values

FIORE PRIDE

Family - Innovation - Opportunity - Respect

Excellence - Pride - Responsibility - Integrity

Devotion - Environment

“SAFELY BUILDING A BETTER WORLD”

Together We Can Move Mountains

iore & Sons

literally moves mountains

for our

clients. In

true partnership

, we construct the re-

gions housing, transportation, utility and commercial

projects

down to the ground and from the ground

down

. We know there are a lot of companies out

there that do what we do -

It’s how and why we do

it that matters

WHAT WE DO:

iore and Sons is a Colorado - based third gen-

eration family owned heavy civil contractor

providing a range of construction services including

demolition, site utilities, overlot grading, trucking and

material removal/recycling. With trusted subcon-

tractor partners we also have a proven track record

of delivering turn-key projects.

e live by these Core Values to create the best potential for success for all

of our partners (business, community and personal).

730 W. 62nd Avenue Denver CO 80216

Phone: 303.429.8893 / Fax: 303.429.3035

www.fioreandsons.com

eing a Chicago Cubs fan, I

was very excited this past

fall with its World Series vic-

tory. However, I immediately

started looking forward to

next year and wondering how the

Cubs will respond to that success. At

the recent Cubs Convention, man-

ager Joe Maddon focused some of

his remarks on the importance of

authenticity, how to achieve it and

how to maintain it.

Authenticity is something I think

a lot about as it relates to the apart-

ment market. Now more than ever,

the majority of renters, particularly

those with disposable income, desire

or demand authenticity. This is

expressed in many related areas: the

organic food movement, the farm-

to-table movement, the sustain-

ability movement, the maker move-

ment and others. How then with

20,000-plus units under construction

around Denver as well as substantial

land, fee and hard cost pressures

can a company develop a ground-

up project that is authentic? Part of

the answer is to focus intensely on

design. Gone are the days of 400-unit

garden-apartment projects with two

different building types and six unit

plans.

Apartments have become less of a

commodity and more of a destina-

tion. Buildings are more complex

and must be thoughtfully designed

to fit the location and complement

the amenities and unit layouts to

achieve maximum “authenticity”

and resultant value creation.

I am sure many could rattle off

pages of design trends we’ve all

seen come and go.

However, we can

pinpoint trends

that have stuck and

become a differen-

tiator for a proper-

ty. Either a feature

or amenity that

added value or the

absence of one that

led to a competi-

tive disadvantage.

Something was

developed and pro-

moted to capture

higher rents, or we

tried to find ways

to overcome objections. This pres-

ents a great opportunity for owners

and developers today. If we think

carefully about evolving consumer

preferences, it is possible to design

a community that connects with

these evolving desires. Good design

is always changing, just as consumer

preferences are always in flux.

In an increasingly competitive

marketplace in which everyone

is chasing the same renters, one

can’t just dip into the same old well

of luxury single-family and hotel

sources for inspiration. For a con-

sumer set that is proven to show

preference for authenticity, we have

to be careful to avoid fabricated

experiences and fads.

The question then becomes how

to achieve that authenticity. The

floor plan and unit finishes are the

most important elements of the

decision to rent, studies by Kingsley

Associates and others show. So, the

unit itself is the best opportunity to

create a genuine connection with a

renter. In the past, unit plans and

finishes were routinely recycled. As

the competitive marketplace grows,

this practice will be less success-

ful in attracting the target renter

demographic. If a prospect tours

five properties with roughly identi-

cal finishes, authenticity is not what

springs to mind.

The first challenge it to accurately

define the targeted prospect; is it

up-and-coming millennials, estab-

lished 30-somethings, 50-plus empty

nesters or perhaps all three? Urban

versus suburban also has a large

impact on what renters are seeking

from a rental home, both in terms of

layout and finish. Ask yourself – is

the community in an established

neighborhood or trying to capital-

ize on a path of growth in a rapidly

evolving location? All of these ques-

tions and more should influence

the design and layout of the unit,

including the finishes selected.

Similarly, the leasing office has sig-

nificant importance because it is the

first opportunity to make an impres-

sion on a prospect. The leasing office

should relate to the submarket in

which the property is located. If

Andy Mutz

Senior vice

president,

development,

AMLI Residential,

Greenwood Village

Create apartment authenticity with strong design

AMLI Residential

It does not take much to enliven a bike repair room to complement a property’s identity.

Please see 'Mutz,' Page 31