Amenities war no more? Research report explores multifamily market
Bark parks, bicycle kitchens, bowling alleys, dog washing stations, golf simulators, karaoke rooms, on-site daycare, Peloton cycling studios, pickleball courts, refrigerated food lockers, surfboard storage units.
There’s no limit to the lunacy in the multifamily amenities game. Whether the so-called “amenities war” is just speculative frenzy or the new normal in multifamily development, real estate developers show no signs of pulling back on specialty spaces and unique offerings in an effort to attract and retain high-quality tenants and buyers. This, according to the newly released Multifamily Amenities 2019 survey, conducted by BD+C’s sister publication, Multifamily Design+Construction.
The survey of 307 designers, contractors, and developers found that, despite the rise of highly specialized spaces, the most popular amenities are tried and true.
Lounge areas, fire pit/grill, outside storage, rooftop terrace deck, and walking paths were the five outdoor amenities cited most often by respondents. When asked about indoor amenities, respondents pinpointed in-unit washer/dryer, indoor lounge, community kitchen, coffee bar/café, and reading/library area as the most-desired spaces.
Surprisingly, bocce court made the top-five “recreation amenities” list, along with billiards table (No. 1 on the list), game room/arcade, basketball/volleyball court, and jogging/walking path. When asked about “business services,” free building-wide WiFi topped the list (duh!), followed by conference room, electric vehicle charging station, business center, and computer room/lounge.
This is just a sneak peek at the findings of the Multifamily Amenities 2019 survey. To download a free PDF with the complete survey findings, visit BDCnetwork.com/Amenities2019 (short registration is required).
