CREJ

August 2019 — Multifamily Properties Quarterly — Page 21 www.crej.com ADAM RIDDLE Co-Founder Principal 303.257.7627 ariddle@nexus-cr.com JASON KOCH Co-Founder Principal 303.918.8909 jkoch@nexus-cr.com BRANDONKAUFMAN Sr. Investment Advisor 303.547.7357 bkaufman@nexus-cr.com ANTHONY BOBAY Investment Advisor 720.297.6667 abobay@nexus-cr.com ROBERT GRAY Investment Advisor - Springs 713.857.3054 rgray@nexus-cr.com AUSTIN SMITH Investment Advisor 303.868.9096 asmith@nexus-cr.com NIK MACCARTER Sr. Investment Advisor 303.909.2900 nmaccarter@nexus-cr.com 1435-1445 Jersey St Denver, CO 80220 18 Units List Price: $3,850,000 AVAILABLE PROPERTIES 1109 Emerson St Denver, CO 80218 5 Units List Price: $1,500,000 GUNNAR WILSON Investment Advisor 970.306.3787 gwilson@nexus-cr.com 1553 Steele St Denver, CO 80206 7 Units List Price: $2,080,000 List Price: $3,800,000 53 Units 223 & 319 University Dr Colorado Springs, CO 80910 The Abbey 7120 Hooker St Westminster, CO 80030 Sale Price: $2,550,000 JUST SOLD 20 Units List Price: $6,700,000 Cherry Creek Square 9900 E Florida Ave Denver, CO 80247 56 Units Sale Price: $7,510,000 Contact Us Today to Learn About Our Company’s Approach and How it Can Help You. PAT KNOWLTON Investment Advisor - Springs 719.648.0423 pknowllton@nexus-cr.com Westview Apartments 5635 S Bannock St Littleton, CO 80120 22 Units UNDER CONTRACT UNDER CONTRACT List Price: $5,450,000 UNDER CONTRACT 16 Units Union Block 1501 Boulder St Denver, CO 80011 2 retail & 4 residential List Price: $3,150,000 The Essex 630 E 16th Ave Denver, CO 80206 SEAN HOLAMON Investment Advisor 303.588.2119 sholamon@nexus-cr.com INSTITUTIONAL INSIGHT, BOUTIQUE APPROACH CASEY MCCORMACK Investment Advisor 858.805.1175 cmccormack@nexus-cr.com BENTON ADAMS Analyst 303.328.5208 badams@nexus-cr.com Design Y ou may have noticed that as people are graduating from college, retiring or looking for a second home, they are gravitating toward an urban core. Multifamily properties in dynamic downtown areas are drawing millennials, empty nesters and people in a life transition. Even if people are not currently living downtown, we are able to create that vibe in multifamily proper- ties close to their transit options. Residents don’t just want a place to call home though; they want a full lifestyle at their fingertips and we’re focused on designing spaces to meet those wishes. Here in Denver, people want convenience with walkability and transportation options replacing traffic jams so they can have more time to play, engage with others and enjoy life. We’re focused on designing spaces that can allow them to easily connect with friends, neighbors and colleagues in low- maintenance, attractive settings. Whether it’s a converted ware- house, a high-rise in downtown or a suburban product near a trans- portation hub or light-rail stop, the energy of the city is where it’s at today, where people want to be and gather. People are searching for a sense of community with walkabil- ity where they can enjoy so many amenities at once. Once places of almost exclusively commerce, downtown areas across the country are becoming vibrant meccas for those who desire more of a community destination for din- ing and interacting together. According to the National Mul- tifamily Housing Council, there is a demand for 4.6 million new apart- ment units by 2030. Rick Haugh- ey, vice president for Industry Tech- nology Initiatives at NMHC said in a BusinessWire article that, “The multifamily indus- try needs to catch up with the revolutions that are already well underway in every- thing from transportation and retail to demographics and psychograph- ics. With a population that is aging and growing more diverse, which is impacting household composition, now is the time for our industry to adapt and build to meet the needs of the future.” What this means is that people want to live, work and play all in one place, and as we see these trends evolve, we are designing multifamily interiors to respond to the demands of convenience, well- ness, proximity and vibrant activat- ed spaces that promote gathering and community. So, what does this modern mul- tifamily place look like? It means we are now creating experiences. People want flexible spaces, well- ness amenities, convenience and connectivity. As individuals’ inter- ests and needs evolve, they also want their living space to be able to transform easily and suit them in this new stage of life. Apart from the entertainment and dining options a modern city offers, people want to have their own space to engage with friends, colleagues and neighbors, and this human component is what is driv- ing the demand and interest in creating gathering places within the multifamily properties. Picture various groupings of collected seat- ing areas in a large open space, with coffee by day and wine bar by night – with outside vendors who create their own niche. Convenience might look like a grab-and-go food nook where residents can also get basic drug store items – all digitally managed. And that’s just inside; the outside spaces also are tuning into to these wants with sprawl- ing courtyards that include games, luxury pool areas, rooftop decks with gourmet kitchens, and outdoor barbecue spaces and pizza ovens. These aren’t just spaces anymore, but an extension of the apartment dweller’s life and home with all of these conveniences within walking distance of their front door. Start with the building’s lobby. This is no longer a place to just pass through on the way to the elevator. The NMHC’s 2018 Con- sumer Housing Insights Survey found that 83% of their respondents believe “places to socialize face-to- face with friends and family is an important housing feature.” The city can come to residents with known brands or a local ven- dor being on the ground floor and resortlike amenities all contained in the building. They also might have on-site services such as car shar- ing, housekeeping and on-demand concierge. Each element is part of maintaining connectivity between not just the apartment dwellers, but also their personal networks too as they set up time for meetings, drinks and fun. A lobby is now a meeting place either with friends or for business, and should be designed with com- fortable and practical seating as well as provide ways to power and use devices discreetly. This is the place to set the tone for the entire building so if this property has bragging rights to using sustainable materials, decorate the lobby with natural features such as plants and even a fountain. Rather than hide a brick wall or steel beam, show it off as a natural element. Workout space as the idea of wellness is effortlessly tied to the outdoors with outdoor gyms on rooftops and pool side. Plus, this is an amenity that shows appeal to all ages and lifestyles as a place for people to interact and socialize. The need for all of this is to create a sense of authentic community, and that authenticity comes from focusing on what’s local. Sourcing local materials, pulling from local history – these can set the design apart and bring it to the next level. What works in one city for a mul- tifamily building may not resonate so well in another. While it makes sense to find inspiration in other locales, remember to be authentic when you approach the design, look and feel of your building. ▲ Creating community with multifamily housing Kristen Terjesen, NCIDQ Principal designer, Studio 10 Interior Design