As Baby Boomers downsize and Millennials begin buying homes, multifamily homes in dynamic urban areas are appealing most to these demographics dominating the housing market.
Using new data from ON Collaborative, the Huffington Post highlighted four major points for builders and developers to keep in mind while courting these two powerhouse groups—buyer commitment level, values, resources, and most desired features for their lifestyle.
Trending options [for boomers] include maid, laundry, meal and personal valet services ... tech-enabled smart lighting that supports natural circadian rhythms; and biometric security and alert systems ... Though Millennials have less money to spend, they’re more flexible and adept at making trade-offs. They weigh unit size against other assets—especially location and quality of amenities.
Related Stories
Multifamily Housing | Aug 17, 2018
Sound advice on multifamily construction
Four leading experts tell how to ensure your next multifamily project achieves acoustic privacy.
Multifamily Housing | Aug 15, 2018
Memphis construction: Can this city become the next Austin?
One local design firm is trying to make it happen.
Multifamily Housing | Aug 8, 2018
Flyin' high: Humphreys & Partners Architects keeps soaring to new heights
HPA, which reported $78.2 million in multifamily design fees in 2017, ranks as the nation’s largest multifamily design firm.
Multifamily Housing | Aug 7, 2018
Even after redevelopment, the iconic 'Chicago Tribune' sign will remain at 435 N. Michigan Ave.
The newspaper and the building's new owners reached a settlement.
Multifamily Housing | Aug 2, 2018
The recipe for bicycle kitchens
Bike storage and workshop spaces are rapidly turning into full-service social amenity spaces in multifamily projects.
Multifamily Housing | Aug 2, 2018
Bicycle kitchens give cyclists their very own amenity space
Bike storage and workshop spaces are rapidly turning into full-service social amenity spaces in multifamily projects.
Multifamily Housing | Jul 31, 2018
Put air rights to better use
If your school district is building a new school, build housing in the air space above it and put lower-paid public employees at the front of the line to live there.
Multifamily Housing | Jul 25, 2018
Multifamily market trends 2018: Demographic shifts reshape the residential landscape
Changing generational preferences are prompting multifamily developers to re-strategize.
Multifamily Housing | Jul 19, 2018
Multifamily market stays hot in first half of 2018
The average rent grew by $12 in June, to an all-time high of $1,405, according to a survey of 127 markets by Yardi Matrix.
Multifamily Housing | Jul 18, 2018
First apartment building funded by Massachusetts’ workforce housing subsidy program opens
The transit-oriented Gateway North Residences is centrally located in Lynn, Mass.