Renovations and construction of multifamily housing in the Southeastern part of the country remains strong. And even better, there are no signs of slowing down. Historically, as the economy worsens, the demand for apartment living increases.
Especially in high demand are more affordable and mid-grade options such as podium products or garden style apartments. Popular in both cities and suburbs that support those working from home.
Owners and managers of multifamily housing are dealing with the skyrocketing number of tenants who are working from home in a number of ways.
A 2021 survey by Building Design and Construction, shows how the respondents are handling the new “work from home” tenants:
In-residence work nooks
Privatized work/study spaces on each floor to serve work from home
Outdoor workstations
Larger apartment unit sizes to accommodate work from home
Isolation rooms for shared living units
Others have installed outdoor fitness options, placed sanitizing stations around their communities, and added touchless access controls. ICovid instructional signage in shared areas, third-party resident virtual events, and hands-free entry doors at the clubhouse and on fixtures in common area bathrooms were among other actions taken by respondents.
One developer, whose current projects were still in the design development phase, was able to change the design to add exterior balconies and in-home work nooks for every apartment.
One developer was considering “multiple smaller social spaces rather than one large gathering area, and more individual small-group breakout areas.” Another said future developments would “disperse amenities throughout the project rather than in one mega-amenity,” and put more investment in outdoor spaces.
As one respondent concluded, “We believe many [occupiers] will continue to work from home at least part time after the pandemic, so we’re recommending more communal working space, such as coworking with private spaces.”
At SWET Construction Group our core footprint is in the Southeast, where multifamily housing is expected not performing well in 2021 and beyond.