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 | Jul 20, 2016
Colorful Boston Road building offers affordable housing in the Bronx
Designed by NYC’s Alexander Gorlin Architects, the 12-story building will have 154 studio apartments for low-income working adults.
Multifamily Housing | Jul 18, 2016
Four residential projects named winners of the 2016 AIA/HUD Secretary Awards
Affordable housing, specialized housing, and accessible housing projects were honored.
Multifamily Housing | Jul 14, 2016
Portland, Ore., City Council approves construction excise tax for affordable housing
Expected to raise $8 million annually on commercial and residential projects.
Multifamily Housing | Jul 7, 2016
Courtyards make Brooklyn’s Bushwick II residential development its own miniature city
Bushwick II will feature light-filled plaza spaces, a roof for urban living, and more than 800 apartment units.
Market Data | Jul 7, 2016
Airbnb alleged to worsen housing crunch in New York City
Allegedly removing thousands of housing units from market, driving up rents.
Market Data | Jul 6, 2016
A thriving economy and influx of businesses spur construction in downtown Seattle
Development investment is twice what it was five years ago.
Multifamily Housing | Jul 5, 2016
Apartments continue to shrink, rents continue to rise
Latest survey by RENTCafé tracks size changes in 95 metros.
High-rise Construction | Jun 29, 2016
Best Tall Buildings around the world favor unusual shapes and hybrid functions
The Council on Tall Buildings and Urban Habitat selects winners in four regions.
Multifamily Housing | Jun 22, 2016
Can multifamily construction keep up with projected demand?
The Joint Center for Housing Studies’ latest disection of America’s housing market finds moderate- and low-priced rentals in short supply.
Urban Planning | Jun 15, 2016
Swedish ‘Timber Town’ proposal from C.F. Møller provides a unique blend of nature and city
The development acts as a transition area between a traditional urban landscape and parklands.