The multifamily housing and apartment buildings are being redefined by the new generations, Millennials and Gen Z. The industry has evolved to meet their lifestyle and values. With an emphasis on convenience, co-living arrangements, and social spaces.
These generations present a great investment opportunity, as a majority of them opt to rent instead of purchase homes. New construction and renovations of multifamily housing, need to understand the priorities of these new generations. The design trends need to be current to attract these tenants.
Co-Working and Living
More and more younger people are working from home. They will be looking for not only for somewhere to live, but also to work. To support their lifestyle, they are looking for larger spaces, communal spaces and flexible amenities. To get the most out of their housing, most Millennials have roommates.
Amenities, Common Areas and Fitness
For Millennials and Gen Z common areas are a priority, as well as amenities and living environment that supports their needs. Such as areas that enable them to have organized events, such as a painting parties, cooking classes, or yoga. They are also looking to incorporate a healthy lifestyle.
The Latest Technology
Millennials have come to expect the newest technology. Where they can do just about anything over their phone. Such as buzzing guest up to their apartment to paying rent and ordering coffee from the cafe in the lobby.
Convenience
Most Millennials and Gen Z are willing to pay more for convenience. Most of this is in the form of experiences. Concierge service, smart controls, charging stations, e-commerce delivery rooms, in-suite washer/ dryer, and location.
Creating A Living Experience
SWET Construction Group takes into account the new multifamily housing industry, create a living experience that caters to residents lifestyle and community. We are an integrated construction firm in the Southeastern United States.