Multifamily Innovation Watch: Amenities for the 2020s
As multifamily housing becomes a longer-term choice for people of all ages and incomes, innovative, stand-out amenities are rising as a key differentiator — and a key component to the success of individual assets.
After a slew of creative, cutting-edge amenities brought the wow factor to new luxury communities, starting an “amenity war,” the amenity story began to garner more interest. The discussion has broadened with evolving technology, changing resident interests, and the creation of true, connected communities within apartments. It goes much further than new and luxury communities — value-add redevelopment activity is bringing improved and new amenities to older communities as well, modernizing their offerings and expanding their appeal.
In today’s world of rapid change, it can be challenging to know which amenities are a flash trend — in today and out tomorrow — and which provide true value, both for residents as well as investors. With new generations entering the market and increased levels of entrepreneurship and telecommuting, amenities need to be flexible to adapt to changing interests and needs. Which amenities bring the most value to residents and investors? Which will enhance the quality of life of the residents and minimize turnover?
In this report, CBRE Research and Streetsense examine the world of multifamily amenities, from the latest state-of-the-art physical amenities to the more abstract role of creating a sense of community to how to build flexibility for evolving demographics and technology.
Read the full article at CBRE
