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May
30

Popular Trends for Millennial Apartment Renters

By on May 30

According to a

National Association of Home Builders (NAHB) webinar, the location of an apartment building is the most important feature for renters when choosing where they want to live. Millennials are the largest segment of the renting population, and they gravitate towards more urban areas and transportation hubs, which is where multifamily builders and developers are focusing their efforts.

“It’s all about the lifestyle for today’s renters. They want the urban experience of less commute time and immediate access to various activities,” said Jeff Kayce, vice president at Bozzuto Development Company and one of the webinar’s presenters. “Because of this, many developers are building near transit hubs and along transit lines. Bozzuto, for example, has been building many of its new apartments along DC’s metro line to create easier access for its renters.”

Besides location, apartment renters are looking for beautifully, designed common areas. Currently, these areas are being designed to have spaces merge together, creating a more open feel. “In the previous design cycle we saw separate, distinct rooms,” said Rohit Anand, AIA, and principal of the KTGY Group and webinar presenter. “Now we have the computer room, media center and lounge all part of the same room, for example. This type of design helps foster interaction among residents.”

In addition, fitness has become a priority in luxurious apartment living. According to presenters, the design of the fitness center has changed over the years from being more that a dark room overlooking the parking lot. Today, the minimum size of a fitness center is between 1,200 and 1,500 square feet. Having state-of-the-art fitness equipment in addition to a yoga and Pilates program plays a significant role while shopping for apartments.

Other emerging trends include amenities for dog runs, pet washing stations, garden plots, bike storage and workshop spaces. The use of outdoor gathering areas with an outdoor fireplace for colder seasons is also becoming popular as well as the location of the pool.

For other

luxury apartment trends, check out our website. For more on the Atlanta real estate market, visit Atlanta Real Estate Forum.

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