As soon as an architect friend showed him a video of the Ori system, Matt Branagh knew it was just what he was looking for. The fourth-generation Owner/CEO of Branagh Development, Lafayette, Calif., saw that Ori could make his studio apartments feel like junior one-bedroom units—perfect, he said, for the “huge wave of people” coming to Oakland from San Francisco to get more space at lower rental cost in a first-class building.
He leased five Studio Suites and purchased eight Pocket Closets for Maya, his firm’s 47-unit apartment building in Oakland, which opened in March. He’s bundling a $275/month premium into the leases for units with a Studio Suite and $95/month for those with a Pocket Closet.
Branagh said tenant adoption for the Pocket Closet was “really strong.” “People get it,” he said. “It’s a price point that they’re willing to pay for, and it’s unique—their friends don’t have it.” He said some prospective tenants were “a little intimidated” working the robotic keyboard at first, but “once they did it a couple of times, they loved it.”
He said Ori turned his floor plans around in 3-4 days and suggested several options. The manufacturer flew in two technicians from Boston to install the systems. They had to do a work-around for the Pocket Closets because the nonmoving section of the two-part system would have bumped into the apartments’ mini-splits. Even so, “the installation was quicker than expected,” just a few days, he said. Branagh has ordered six more.
For Nova Quincy, a 171-unit mixed-use rental community in Quincy, Mass., 10 miles south of Boston, Jonathan Miller, Vice President of LBC Boston, has ordered 40 Studio Suites. “Our prospective tenants are young professionals looking for value outside Boston but close to transit in a lively downtown center,” said Miller. The MBTA Red Line stop is a seven-minute walk.
Nova Quincy will open in September, but already there’s been “a ton of interest” in the Ori system from prospective tenants “looking for something innovative.”
Studio Suites will be installed in 10 studio apartments and 30 micro-units (330–400 sf). “One of the primary benefits of Ori is your usable square footage is much greater”—about 100–150 sf more, he has calculated—“than what you’re paying for.” LBC Boston will include a $200–250 monthly rental premium for what they’re calling “Ori Smart” Studios.
SEE ALSO: Robotic interiors: How to make a studio apartment feel as big as a one-bedroom unit
Miller said he wants to see how the leasing goes for the Ori-outfitted units, but so far he’s “definitely bullish” on using Studio Suites in future projects in Quincy, Allston, and Brighton, where LBC Boston has permitting for 1,500 apartments.
Related Stories
MFPRO+ News | Feb 15, 2024
Oregon, California, Maine among states enacting policies to spur construction of missing middle housing
Although the number of new apartment building units recently reached the highest point in nearly 50 years, construction of duplexes, triplexes, and other buildings of from two to nine units made up just 1% of new housing units built in 2022. A few states have recently enacted new laws to spur more construction of these missing middle housing options.
Multifamily Housing | Feb 14, 2024
Multifamily rent remains flat at $1,710 in January
The multifamily market was stable at the start of 2024, despite the pressure of a supply boom in some markets, according to the latest Yardi Matrix National Multifamily Report.
Sustainability | Feb 7, 2024
9 states pledge to accelerate transition to clean residential buildings
States from coast to coast have signed a joint agreement to accelerate the transition to pollution-free residential buildings by significantly expanding heat pump sales to meet heating, cooling, and water heating demand in coming years.
Multifamily Housing | Feb 5, 2024
Wood Partners transfers all property management operations to Greystar
Greystar and Wood have entered into a long-term agreement whereby Greystar will serve as property manager for all current and future Wood developed and owned assets.
Industry Research | Jan 31, 2024
ASID identifies 11 design trends coming in 2024
The Trends Outlook Report by the American Society of Interior Designers (ASID) is the first of a three-part outlook series on interior design. This design trends report demonstrates the importance of connection and authenticity.
Mixed-Use | Jan 29, 2024
12 U.S. markets where entertainment districts are under consideration or construction
The Pomp, a 223-acre district located 10 miles north of Fort Lauderdale, Fla., and The Armory, a 225,000-sf dining and entertainment venue on six acres in St Louis, are among the top entertainment districts in the works across the U.S.
Sponsored | BD+C University Course | Jan 17, 2024
Waterproofing deep foundations for new construction
This continuing education course, by Walter P Moore's Amos Chan, P.E., BECxP, CxA+BE, covers design considerations for below-grade waterproofing for new construction, the types of below-grade systems available, and specific concerns associated with waterproofing deep foundations.
Multifamily Housing | Jan 15, 2024
Multifamily rent growth rate unchanged at 0.3%
The National Multifamily Report by Yardi Matrix highlights the highs and lows of the multifamily market in 2023. Despite strong demand, rent growth remained unchanged at 0.3 percent.
Adaptive Reuse | Jan 12, 2024
Office-to-residential conversions put pressure on curbside management and parking
With many office and commercial buildings being converted to residential use, two important issues—curbside management and parking—are sometimes not given their due attention. Cities need to assess how vehicle storage, bike and bus lanes, and drop-off zones in front of buildings may need to change because of office-to-residential conversions.
MFPRO+ News | Jan 12, 2024
Detroit may tax land more than buildings to spur development of vacant sites
The City of Detroit is considering a revamp of how it taxes property to encourage development of more vacant lots. The land-value tax has rarely been tried in the U.S., but versions of it have been adopted in many other countries.