In communities across the country, there is a high demand for multi-family housing construction projects. It takes innovative design and engineering to combine all the luxuries of a single-family home into a smaller, affordable place to live.
Here are three tips for creating the best multi-family homes that prospective residents will be lining up to rent or buy.
- Luxurious Common Spaces and Amenities
Many prospective tenants are looking for a building that has a variety of common spaces. But the way these spaces are designed and the amenities they offer will determine if the space will help win over potential tenants.
It’s not about just having these common spaces. If the space is not attractive or inviting, no tenant is going to use it. And because many prospective tenants are seeking luxurious, Instagram-able spaces, they will be paying attention and picturing how they would use them.
Prospective tenants will ultimately choose to live in the building that has these hotel-like features, such as a rooftop deck, terraces, outdoor spaces with pools, lounges with comfortable furniture, fitness centers with classes, and dog spaces.
Plus, the more amenities and services a building offers, the more tenants will likely be willing to pay to live there.
- Do Not Skimp on the Size of Individual Units
Many prospective tenants want to live in multi-family buildings because they are downsizing from a single-family home, or they are millennials who are now starting a family but don’t want to give up the urban lifestyle that often comes with a multi-family building.
Because of this, many people are looking for a unit that offers many of the features that are popular with single-family homes: open floor plans, tons of daylight pouring in from big windows, and larger rooms with ample storage space.
Trends are showing there is a high demand for larger units, and they are getting rented or purchased quicker than smaller units.
- Affordability Over Amenities and Space
This point may seem a bit contradictory to the previous two mentions, but hear us out. Not everyone wants a huge apartment with hotel-like amenities, because that type of living does not come cheap.
There is still a major demand for more affordable housing options, both in urban centers and the suburbs, that cater to middle-class renters.
Some building owners are getting creative to make things more affordable, such as lowering operating costs through energy-saving systems, such as LED lighting, rainwater collection, and solar hot water systems. Others are choosing to build complexes that offer smaller units, including micro-apartments, which can often appeal to younger renters.
Contact us today!
Miller Architects and Builders in St. Cloud, we’re a leader in the architectural design and construction management industry. We have a vast portfolio of commercial construction projects, including multi-family housing projects.
When it comes to large projects like these, we have the knowledge and experience needed to complete a beautiful multi-family housing project that will exceed your expectations and wow prospective tenants. To learn more, contact us at 320-251-4109.