TEXAS – As multifamily trends like smaller units and the changing definition of value-add settle in, owners are discovering which amenities add the most value to developments.
Beer brewing rooms, skyline views and music studios have been added into multifamily properties during this development cycle.
JPI, a development and investment management company, is constantly evaluating its approach to amenities because it wants to see a return on those investments.
Package lockers, pools and outdoor lounge areas were not necessarily standard in the previous development cycles, but Allied Orion Group chief investment officer Ricardo Rivas said they are now.
Allied Orion has even redesigned recently delivered projects to implement lockers so that residents may safely pick up ecommerce packages anytime.
Pools with grilling stations and lounge furniture provide a good return on investment, Westmount Realty Capital CEO and founding partner Cliff Booth said.
The amenities added into the areas where residents spend the most time—within their own units—have been successful, says Westmont Realty Capital CEO Cliff Booth.