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5 Top Trends in High Rise Living and Development

Welcome back. Last time we took a look at building amenities. In this final edition in our series, we’ll summarize some of the top trends affecting the market, design and the tenants of high rise developments today.

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5 Top Trends in High Rise Living and Development

 

1. Baby Boomers and Millennials coming to a building near you.

It has been estimated that some 150 million people compose the Baby Boomer and Millennial generations. What do these two groups have in common? No children living at home and an interest in being where the action is. That means these groups are descending upon urban areas looking for apartments or condos with access to work, transportation and cultural offerings.

 

2. It’s a small world.

To meet the demand for living space in urban neighborhoods, developers are thinking small. They are downsizing the average one-bedroom, for instance, from 900 sq. ft. to 700 sq. ft. or less. Some developers are even tinkering with the idea of micro units (around 300 sq. ft.).  The logic in all this? The buildings of years ago are not meeting the demand, so a little space must be sacrificed to fit new development into urban areas. Fortunately, Gen Y tenants favor more common, social space over their personal space, so the extra square footage won’t be missed.

 

3. A little less privacy, please. Another sacrifice? Privacy. Not anything drastic, though. Developers can do a lot more with a small unit if they can situate the bedroom on an interior wall with an interior window, rather than an exterior one with an exterior window.  Once again, the Gen Y renters aren’t bothered too much, since their lives are an open-book on the Internet, anyway.

 

4. Stay flexible. Both the individual unit and the common space amenity are becoming more flexible. As far as units go, developers are eliminating unused areas, like separate dining rooms, and replacing them with a larger open area that accommodates food preparation, eating and lounging. Builders are also taking down walls between separate club, theatre and game rooms, for example, to create multi-functional common spaces.

 

5. Who let the dogs in? Smart managers, that’s who. The Baby Boomers and Gen Y tenants have a thing for pets. Instead of shunning the influx of animals, building operators are welcoming them. Of course, they still impose weight limits, of about 35 lbs., and they also charge pet rent and pet deposits. In exchange, residents get to use pet-specific amenities, like dog parks and grooming stations, that make the extra expense worth it.

 

To learn more about high rise developments and how Childs/Dreyfus can help concept and design custom spaces that encourage sales, please call the Childs Dreyfus Group at (312) 222-0098 or email our designers at info@childsdreyfus.com.

 

Stay tuned for more design and industry topics!

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Taking Your Build To The Next Level

Taking Your Build To The Next Level

 

As a builder, you want a design partner who understands what you need. As designers, we partner with builders who share our commitment to smart and cost-effective building practices.

 

As we enter 2013 rising prices in real estate, and shortage of inventory should lead to encouraging new construction.  Some analysts are seeing an increase of up to 9% in new construction.

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Trends and Needs in New Construction and Adaptive Reuse

 

Making A Dollar Count

It is important as designers to be able to save the client money without forfeiting quality.  This requires experience, creativity and good relationships with your suppliers.

 

Committed to Sustainability

Today new spaces need to be energy efficient and use sustainable products as ninety percent of real estate owners, developers, and corporate owner-occupants surveyed by GreenBuilding said their companies were committed to environmentally sustainable practices.

 

Technologically Savvy

With today’s advancements everyone’s need for technology for work and entertainment it is important to stay on the cutting edge and have a space that accommodates those needs.

 

Standing Out

Many people want that wow factor, and amenities can take it to that level, whether it is a fitness room or that gorgeous counter top.  In today’s market it is important to have that extra something.

 

 

 

To see our work samples and discuss ways we can help you design your next new building, please call the Childs Dreyfus Group at (312) 222-0098 or email our designers at info@childsdreyfus.com.

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An Important Key to Keeping Long-Term Tenants – Amenities

With so many property options available, a first impression could be the last. Let us use our design expertise and highly effective management skills to help you transform prospects into long-term tenants.

 

One of the primary components of keeping a renter is having a product with high quality that sets itself apart from the market.

 

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Catering to the Times

 

The Gen Y’ers and Millennials making up most of the current and up and coming renters you want to have amenities that appeal to their needs and wants.

 

  1. Fitness. This is a big priority for many people and it is important to go beyond the small fitness room with a couple of machines and offer yoga, and Pilates.
  2. Social.  Take a note from the hospitality industry and have inviting gathering areas for these very social generations to partake in. Many buildings are opening coffee bars with Wi-Fi and comfy seating.
  3. Pets.  With almost half of all renters owning pets today, renters are looking for amenities for their pets, such as a place to wash their animals and an outdoor area to take them too.
  4. Parking. One of the top needs a renter has is parking for cars and now bikes.  Some buildings also offer repair services to bike riders.

 

In today’s rental market it is important to invest in amenities to see an ROI that keeps on giving with long-term tenants.

 

One of our many areas of specialties is amenities, and taking these features to get ROIs.  To see our work samples and discuss ways we can help you take your building to the next level, please call the Childs Dreyfus Group at (312) 222-0098 or email our designers at info@childsdreyfus.com.

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There is Opportunity When Design Meets Student Housing

Dull, drab dorms are beyond old school. Impress the new freshmen class and strengthen your brand, with our modern, multi-functional designs for student residencies.

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The Need

It is estimated by the National Center for education that college enrollment will be up by at least 10% by 2016 and an average of almost 70 percent of college students live in student housing.

 

The Problem

Many student-housing options colleges have to offer are out dated and look like a bad flash back to the 70’s.  Not only are these aesthetically unappealing, but they are not functional for today’s technology driven college student.  More and more college students are wanting to move off of campus where they can get the amenities they need and want

 

The Solution

Investing in student housing re-design is a must.  Colleges need revamp their spaces to be more tech friendly and inviting to college students.  This will not only result in more ROI’s for universities but also make for a much more enjoyable experience for today’s co-eds.

 

 

For more information on how we can help take your campus to the next level please call the Childs Dreyfus Group at (312) 222-0098 or email us at info@childsdreyfus.com.

Inspired Living for High Rise Developments: Leveraging the Lobby

The lobby in a high rise building is more than an entrance and exit. It is where life happens. Tenants come home from an exhausting day of work through the lobby. They meet friends stopping in town for a visit in this space. And at the start of each day, tenants leave through the lobby to take on the world. Lobbies, therefore, need to be as inviting and soothing as possible. They need to say “Welcome home” and “You are in a safe and comforting place.” But they also need to speak to potential tenants as well. To them, the lobby should say “This is the place for you.” The lobby, therefore, should be much more than a series of doors. It should be an innovative space that impresses current tenants and potential occupants, alike.

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A Building Representative

The lobby serves as a representative for the entire development. So when it is styled to impress, it can heighten the senses and leave the visitor wanting to see more. An elegantly appointed lobby will encourage inspiration and make an impact by incorporating the following features:

  • Natural materials, such as stone and wood
  • Large windows and glass doors to provide ample day lighting
  • Sophisticated fixtures, hardware and window treatments
  • Lush and elegant furnishings
  • Rotating art galleries, water features and one-of-a-kind accent pieces

Beyond the interior design of the lobby, potential tenants will admire the functional aspects, as well. A lobby needs to serve many purposes. Discreet work spaces for a last minute agenda item, large meeting spaces for a more formal sit-down, comfortable lounging areas to linger before catching a cab, conveniently-located and easily accessible mail boxes and a welcoming front desk for security and other building personnel, transforms the lobby into an amenity worthy of appreciation.

Lobbies are the first and last spaces your tenants and potential occupants see as they enter and exit your building. They can be designed to invite and inspire and to motivate sales or left bare and unadorned as an entrance and exit. Which would you choose?

Lobby design is one of our specialties.  To see our work samples and discuss ways we can help you design an impressive and elegant lobby, please call the Childs Dreyfus Group at (312) 222-0098 or email our designers at info@childsdreyfus.com.

In our next blog in this series, we will delve further into building amenities and explore why they are a differentiator.

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The Heat Is On: How to Capitalize on the Hot Rental Market

As you already know, the rental market is heating up. People who are experiencing underemployment or are simply feeling hesitant about home ownership are finding renting to be an ideal solution for them. Now is the time to capture these rental prospects while the going is good. Of course, there will be plenty of competition. Staging an apartment or home is one way for owners to gain an edge over other competitors. Making the best possible first impression will help you fill vacancies fast. And if you’re looking to sell, staging solutions can work for you in the same way, attracting the right buyer in the shortest amount of time.

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Use the following design tips to present your property in the best light:

  • Neutral is the name of the game Patching and painting the walls will clear any blemishes created by previous occupants. You may need to prime and apply more than one coat to ensure the best possible coverage. Choosing neutral colors will make the space feel cohesive and won’t overwhelm potential renters or buyers with a particular style. Add pops of color with your furnishings and accessories.
  • Make it functional The space needs to tell a story. It needs to express that all that goes into daily living can be accomplished here. Small nooks or corners could hold a desk and stool or chair to create a message station or computer space. Barstools or a small dinette can be added to the kitchen to create an eat-in dining area. Many renters and buyers have a difficult time imagining what is not there, so you will need to provide the visual for them.
  • Size it right If space is limited, scale down the furnishings to avoid overcrowding the unit and to keep an open flow. Instead of a sectional couch, for instance, a sleek loveseat or chaise and two upholstered chairs can create a living or family seating area that doesn’t overpower the space. A queen-sized bed with a modern headboard can expand the size of a bedroom without making it feel cramped.
  • Add in luxurious touches Elegant pieces will create a feeling of value in the space. And a little can go a long way! For example, the bed in the master bedroom should always be the focal point. Dress the bed in higher-end bedding and mix a few different textures between the quilt, blankets and decorative pillows to achieve the most impact. In the living and dining areas, place a sleek bowl or statue on a bookshelf or add fresh, monochromatic flowers to metallic vases to dress up any counter or table.

These staging tips are only the beginning. The possibilities are endless when it comes to creating a look that sells. If you would like to learn more about staging solutions and how our designers can help you achieve your goal of a accelerated sales cycle, please call the Childs Dreyfus Group at (312) 222-0098 or email us at info@childsdreyfus.com.

Next time we’ll present our first installation in our Inspired Living for High Rise Developments series. See you soon!