CREJ - Building Dialogue - September 2017
The rapid rise of new apartment development in Denver is staggering, prompting developers to seek project elements that position them above the crowd. Well laid-out unit floor plans and distinctive exterior designs are always important for managing cost while expanding creativity. But new approaches to amenities can target many new valuable market niches ahead of the competition. Creative amenities are becoming the hot selling point with prospective tenants, and they extend beyond pools and fitness centers. Today’s market trends in apartment design draw increasingly from the lifestyle and activities of millennials, but these also transfer across age groups who desire a similar lifestyle. Pool and fitness centers are becoming larger, even bordering on hospitality or commercial proportions. Multiple social spaces are also becoming more common. These may feature indoor and outdoor gathering spaces with grills and TVs, and demonstration kitchens that are attractive to “foodie” groups. All provide opportunities for people to interact with their follow tenants in spaces that are like extensions of their living rooms. For sports-oriented tenants, golf and ski simulators are appearing in some projects along with climbing walls and indoor basketball courts. There are dedicated yoga rooms and even massage rooms for after-workout routines. Gear rooms for bike repair and ski tune-ups include areas to wash off mud from mountain bikes or grime from road bikes. There are also loaner bikes on some properties, allowing tenants quick access to commuting around town. A large proportion of Colorado renters are dog or cat owners. The industry has captured this market by providing dog washes and spa amenities, including treats at the front desk and wash areas and dryers. Catering to pet owners doesn’t seem to be slowing and such amenities are increasingly becoming project focal points. In the future, we may see more connections to veterinary offices and boarding facilities with training and behavior classes at the property. Dog wash areas are graduating from the stainless steel tubs in the back room to large-room sized showers near the front of the building. In addition, there are plenty of ground-floor units with large yard spaces for dogs to roam. Interestingly, on the opposite spectrum, I recently collaborated on a project that intentionally prohibited pets. This proved to be successful with non-pet owners who preferred an animal-free home. While not a large project, the owner realized there was an opportunity in that market. As a growing number of young people telecommute, workspaces and conference rooms on the property are growing in popularity. The increase in shared workspaces and business centers is also an opportunity to expand these services in other markets. In addition to targeting apartment tenants who work from home, these attractive and comfortable spaces provide study areas for students attending nearby colleges and universities. As always, multifamily developments must deliver a basic list of amenities, and as competition heats up, the varieties market demand will only increase. At the same time that amenity spaces are getting larger, unit sizes are trending smaller: In many cases, residents are spending an increased amount of time in their building’s social spaces, rather than their residences. Developers, architects and interior designers are always searching for the next trend in amenity spaces, monitoring specific targets markets’ social and recreational activities to determine if they can provide related amenities on their properties. Perhaps the next round of Denver developments will see the first paddleboard pool, or shared workspaces with reserved offices and conference rooms. eokland@cuningham.com