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The Apartment Effect
- 1. 1 The Apartment Effect: Lessons from 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 industry anticipated 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 the ages 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 Between Boomers and Millennials * Source: *5280 Magazine
- 7. 7 Life Stages Childhood Early Career Family Formation Late Career Retired
- 8. 8 Opportunity Those born from 1989 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, it is expected that there will be 5.2 million more owner households and 7.3 million more renters.
- 10. 10 Opportunity The southern regions where 43% of Americans currently live will welcome 62% of US households growth.
- 11. 11 Opportunity Surban is the new 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
- 12. 12
- 13. 13The Standard at Gainesville – Landmark Properties – Gainesville, FL Student Housing
- 14. 14The Rey – Wood Partners – San Diego, CA Apartments
- 15. 15 Single Family
- 17. 17
- 22. 22Toms Flagship Store – Los Angeles, CA
- 23. 23Denizen – D4 Urban – 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
- 28. 28Denizen – D4 Urban – Denver, CO Over The Top Pools
- 29. 29Denizen – D4 Urban – 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
- 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
- 37. 37 Technology
- 38. 38 Technology
- 39. 39 Stapleton by the Numbers 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
- 42. 42 Runway 35 Pool Modern design Competitive pool/heavy focus on swim team programming Eight 25-meter lap lanes for swimming and programming
- 45. 45 Surban Experience Right outside your door
- 46. 46 Surban Experience “Home ownership to me , whether you are renting or you own your home, is taking pride in the space you live.”
- 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
- 53. 53 Unique Personality “Home ownership is having the ability to design the inside of your living space however you want, without getting permission from anyone!”
- 54. 54 1 Bedroom Apartment Radius Apartments 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/1 Bath. 707 sq.ft. From the low $400,000s
- 56. 56 Apartment Amenity Market Square Tower
- 57. 57 Masterplan Amenity Arcade at The Hilltop Club Rancho Mission Viejo
- 59. 59 The Hangout The Hangout is a Millennial Magnet at Rancho Mission Viejo
- 60. 60 Resident App
- 61. 61 Resident App
- 62. 62 Resident App
- 64. 64 My Time Home Tour Subtitle or additional information can go here…
- 70. 70 Advice
- 71. 71 Q&A
- 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
- 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
- 4 big influencer’s / 5 main life stages
- 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%).
- 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%).