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The Apartment Effect
The document discusses lifestyle-focused rental housing and lessons learned. It covers demographic trends among generations like millennials and boomers, including their desires for location, amenities, and space. Examples are given of successful apartment communities that meet these desires through amenities like pools, retail, and community spaces. The opportunities around meeting growing demand for both rental and for-purchase housing are also discussed.
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The Apartment Effect
- 1. 1 The Apartment Effect: Lessonsfrom Lifestyle Focused Rental Housing
- 2. 2 Speakers Angela Harris CEO &Principal TRIO aharris@triodesign.com Tasha Jones Senior Director of Marketing and Community Relations Brookfield Properties Development Tasha.Jones@brookfieldpropertiesde velopment.com Bobby Long Principal and Design Director KEPHART community :: planning :: architecture bobbyl@kephart.com Jasvina Gill Vice President p11 Creative Jasvina@pll.com
- 3. 3 What our industryanticipated in 2010? Source: John Burns Consumer Insights Survey, 2010 • Demographic shift – Gen Y’s are revving up to be the biggest opportunity, followed by Boomers. • Gen Y will be shopping to buy their first homes in 2012 and this will continue until 2031. • A few trends highlighted that would apply to the Gen Y shopper… ― We are becoming an ageless society. ― Price is more important when buying a house than size. No frills chic. ― Green – 73% are motivated to be green at home in order to save the environment. ― The need to breathe/a connection to the outdoors. ― Form & Function like the iPhone…tech is important to Gen Y ― Gen Y wants lifestyle first over being a slave to their home or higher price. ― Uniqueness ― Size decline – smaller means economical and responsible ― Location first and less suburban sprawl.. Gen Y does not want a long commute and would accept a one car garage plus parking space for a lower price. ― Multi-functional space including multigenerational households (living with their parents) or AirBnB ― Female buying power
- 4. 4 Comparisons between theages of 22 and 27* Sources: *Pew Research Center **The National Association of Realtors • 25% at least a bachelor’s degree • 66% of women and 86% of men were working • 8% lived with their parents • Credited for 16% of new homes purchased in 2018** • 66% were married • 58% are mothers • 39% at least a bachelor’s degree • 72% of women and 83% were employed • 15% lived with their parents; • Credited for 36% of new homes purchased in 2018** • 46% married • 48% are mothers Boomers Millennial
- 5. 5 Desire Comparisons BetweenBoomers and Millennials * Source: *5280 Magazine
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- 7. 7 Life Stages Childhood EarlyCareer Family Formation Late Career Retired
- 8. 8 Opportunity Those born from1989 to 1993 constitute the largest five-year age group in the country. They will lead the addition of 12.5 million more households from 2015 to 2025….86% more households than created in the past 10 years. Builders will construct 13.7 million new homes and apartments to meet the demand.
- 9. 9 Opportunity By 2025, itis expected that there will be 5.2 million more owner households and 7.3 million more renters.
- 10. 10 Opportunity The southern regionswhere 43% of Americans currently live will welcome 62% of US households growth.
- 11. 11 Opportunity Surban is thenew Suburban Defined as a suburban location with an urban feel—in the suburbs, but surrounded by shopping, entertainment, and lots of activities 49% of all new home shoppers want a surban location
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- 13. 13The Standard atGainesville – Landmark Properties – Gainesville, FL Student Housing
- 14. 14The Rey –Wood Partners – San Diego, CA Apartments
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- 22. 22Toms Flagship Store– Los Angeles, CA
- 23. 23Denizen – D4Urban – Denver, CO Integrated Retail Via6 - Seattle 1600 Glenarm Place - Denver Union DenverDenizen - Denver
- 24. 24True North –Holland Company – Seattle, WA Authentic Experience
- 25. 25True North –Holland Company – Seattle, WA Authentic Experience
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- 28. 28Denizen – D4Urban – Denver, CO Over The Top Pools
- 29. 29Denizen – D4Urban – Denver, CO Over The Top Pools Market Square Tower - HoustonDesign District Apartments - Dallas Escape - Phoenix Denizen - Denver
- 30. 30 Concierge/Hospitality The Octagon -NYC Harrison at Reston Town Center - VirginiaKent Place - Denver
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- 33. 33 Community Spaces Ava DoBro- NYC West Village Lofts at Brandon Mill – Greenville, SC 21 West End - NYC
- 34. 34 Community Spaces Stetson Apartments- Scottsdale AMLI South Lake Union - SeattleBattery on Blake - Denver Union Denver
- 35. 35 Community Parks L Apartments- ChicagoThe Grand at Sky View Parc - Queens Eleve Lofts – Los Angeles Altitude 970 – Kansas City
- 36. 36 Transportation Connectivity The Vintage– Washington, DC Denizen – Denver
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- 39. 39 Stapleton by theNumbers at Buildout • Total acres – 4,700 • Lots sold to builders – 10,000 • Lots contributed to affordable homebuilders – 999 • Apartment units – 5,000 to 7,000 • Retail square feet – 3 million • Commercial & Industrial square feet – 6 to 10 million • Parks – 1,250 acres • Schools – 21 • Community Pools - 6 • Population – over 29,000
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- 42. 42 Runway 35 Pool Moderndesign Competitive pool/heavy focus on swim team programming Eight 25-meter lap lanes for swimming and programming
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- 45. 45 Surban Experience Right outsideyour door
- 46. 46 Surban Experience “Home ownershipto me , whether you are renting or you own your home, is taking pride in the space you live.”
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- 49. 49 Mind Light Comfort Nourishment Water • Filtered water • Ultra-low chlorine pool& hot tub • Urban farm • Juicing station • Organic fruit & vegetable service • Floor-to- ceiling windows for natural daylighting • Low-e glass • Thermal & acoustic consideration • Ample areas for socialization • Filtered air • Increased capacity air changes/ hour Air • Fitness lab, yoga studio & dry sauna • Pool & hot tub • Active staircase • Aquatics room Fitness • Biophilia Learning opportunities • Meditation garden • Pet-friendly Mind Wellness Living
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- 53. 53 Unique Personality “Home ownershipis having the ability to design the inside of your living space however you want, without getting permission from anyone!”
- 54. 54 1 Bedroom Apartment RadiusApartments Seattle Lin. Bedroom W/ D D/W Ref. Living/ Dining Kitchen Entry Bath Wardrobe Plan A7b 1 Bedroom/ 1 Bath 665 Sq.Ft. *Square footage and room dimensions are approximate and may vary by unit. RADIUS Closet Pan. 02.18.15 D/W Ref. Living/ Dining Kitchen Wardrobe Plan A7b 1 Bedroom/ 1 Bath 665 Sq.Ft. Pan.
- 55. 55 Attainable Housing 1 Bed/1Bath. 707 sq.ft. From the low $400,000s
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- 57. 57 Masterplan Amenity Arcade atThe Hilltop Club Rancho Mission Viejo
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- 59. 59 The Hangout The Hangoutis a Millennial Magnet at Rancho Mission Viejo
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- 64. 64 My Time HomeTour Subtitle or additional information can go here…
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- 72. 72 Speakers Angela Harris CEO &Principal TRIO aharris@triodesign.com Tasha Jones Senior Director of Marketing and Community Relations Brookfield Properties Development Tasha.Jones@brookfieldpropertiesde velopment.com Bobby Long Principal and Design Director KEPHART community :: planning :: architecture bobbyl@kephart.com Jasvina Gill Vice President p11 Creative Jasvina@pll.com
Editor's Notes
- #7 Different Millennial Profiles: Lone Wolves, Engaged Idealists, Bros & Britney’s, Diverse Strivers, Critical Counterculturists, New Traditionalists 31-year old millennial father vs 16 year old high school student
- #8 4 big influencer’s / 5 main life stages
- #12 These are the neighborhoods that are bringing the best of urban living to a more affordable suburban environment This is a far greater share than that of the other four options we offered: downtown (4%), family-oriented suburban (16%), suburban with few frills (11%), and a large lot rural area (20%).
- #13 These are the neighborhoods that are bringing the best of urban living to a more affordable suburban environment This is a far greater share than that of the other four options we offered: downtown (4%), family-oriented suburban (16%), suburban with few frills (11%), and a large lot rural area (20%).