Free WiFi, meeting rooms most popular business services amenities in multifamily developments

Nearly three-fifths of respondents (60%) to a recent survey by Multifamily Design + Construction magazine (a BD+C sister publication) had included free WiFi in a project in the last 24 months; this trend will surely accelerate in the near future as free WiFi becomes more or less a given for marketing purposes in the multifamily arena.

Smart technology like individual metering (48.3%), electric vehicle charging stations (an encouraging 42.0%), and fiber optic service (37.9%) are clearly catching on with developers and designers. Nearly one in four (24.7%) have placed a smart home system (such as Nest) into a project.

More than one in five (21.3%) respondents said they had built phone-charging stations into their complexes.

Some brave pioneers are experimenting with exciting new concepts like co-working spaces (27.6%) and so-called “maker spaces,” innovation centers, or incubator spaces (10.9%).
Is this movement toward individualized smart technology a signal that the days of the “computer room” or business center are numbered? Think about this: What could you do with that valuable found space?

More results from the MFDC survey to come next week.

Business services amenities:
Free Building-wide WiFi: 59.8%
Conference Room: 48.3%
Individually Metered Utilities: 48.3%
Business Center: 42.0%
Electric Vehicle Charging Station: 42.0%
High-speed Fiber Optic Service: 37.9%
Computer Room/Lounge: 36.8%
Media Room/Media Center: 29.3%
Base: 174
Source: Multifamily Design + Construction Reader Survey, June-July 2017

Despite a disruptive pandemic, investor demand for multifamily real estate was strong in 2020, according to a newly released Yardi Matrix Bulletin. Around 252,000 apartment units were absorbed last year. That’s about 1.7% of total market stock and down 12% from the 286,300 apartments purchased in 2019.