{"id":8848,"date":"2013-11-21T05:00:47","date_gmt":"2013-11-21T13:00:47","guid":{"rendered":"http:\/\/www.yardi.com\/blog\/?p=8848"},"modified":"2021-02-03T15:56:21","modified_gmt":"2021-02-03T23:56:21","slug":"amenity-arms-race","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/amenity-arms-race\/","title":{"rendered":"Amenity Arms Race"},"content":{"rendered":"

Los Angeles\u2014Gen Y likes rooftop pools, multimedia-equipped fitness suites, concierge package service and the ability to order housekeeping for their apartment. They have dogs, get lots of UPS deliveries but almost no mail, like walking places (but also need to charge their electric vehicles), and want the lobby of their apartment community it look like that of a four-star hotel.<\/p>\n

\"The<\/a>
The rooftop skydeck, a coveted Gen Y amenity, is a selling feature of Eleve Glendale, a AMF Development community.<\/figcaption><\/figure>\n

Sound high maintenance? It\u2019s a fair assessment.<\/p>\n

Last week, a panel of multifamily experts delivered an overview of \u201cWhat Renters Want: Development + Design Trends that Drive Occupancy,\u201d at an AIA continuing education event held in Los Angeles and sponsored by Multi-Housing News<\/i><\/a>, Interface<\/a> and Universal Fibers<\/a>.<\/p>\n

Speakers Manny Gonzalez<\/strong>, principal, KTGY Group; Kelly Farrell<\/strong>, vice president, RTKL; and Alan Dibartolomeo<\/strong>, chief development officer, AMF Development Inc. didn\u2019t pull any punches when it came to the wish list of the nation\u2019s largest renter demographic: 20-to-mid-30-somethings.<\/p>\n

\u201cGen Y rents by choice. We\u2019ll see if they continue to rent by choice as they age. But if they keep renting, your rentals will have to be flexible enough in their amenities program to meet their needs in the future and the needs of their kids,\u201d said Farrell, who described the demand for services among today\u2019s typical resident.<\/p>\n

They want to be able to order up housekeeping, but not pay for it on a regular schedule, calling for an appointment when they have been too busy to clean or Mom and Dad are coming to visit. Someone should be in the lobby to receive their dry cleaning delivery and accept their packages while they work. Rent should be payable by credit card so they can auto-schedule the payment and forget about it.<\/p>\n

The good news is that they\u2019re willing to pay for these conveniences.<\/p>\n

\u201cIt\u2019s a generation that if they have the money, they want to be served,\u201d said Dibartolomeo, whose firm competed a Glendale project, Eleve Glendale<\/a>, near Americana at Brand and the Glendale Galleria that features a 26,000 square foot rooftop skydeck, replete with a dog park and hot tub.<\/p>\n

The only disadvantage of creating such posh living spaces is that residents really do seem to think they\u2019re at a resort.<\/p>\n

\u201cThey really believe they\u2019re in a hotel. And there\u2019s a downside to that: they think they can barbecue and cook and just walk away and leave it, and somebody will clean it up. Almost everything is \u2018somebody else will take care of it,\u2019\u201d Dibartolomeo said.<\/p>\n

Describing some of the private student housing communities that have been developed across Southern California, Gonzalez implied that multifamily would likely have to raise the luxury bar to keep up with rising expectations. Does your community\u2019s swimming pool feature a lazy river? \u00a0How about a fitness center that rivals the offerings of the neighborhood\u2019s most high-end health club?<\/p>\n

\u201cIf your community isn\u2019t big enough to do something like this, then don\u2019t even try to do it. Get them a membership to the adjacent club. If you can\u2019t go all the way, don\u2019t just go halfway,\u201d Gonzalez advised. He added, \u201cIt\u2019s what I call the amenities arms race. Everything\u2019s getting bigger, how much can we do? All the money seems to be going into the amenities: \u2018My pool\u2019s bigger than your pool.\u2019\u201d<\/p>\n

This article originally appeared in Multi-Housing News online. Read the full story here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Los Angeles\u2014Gen Y likes rooftop pools, multimedia-equipped fitness suites, concierge package service and the ability to order housekeeping for their apartment. They have dogs, get lots of UPS deliveries but almost no mail, like walking places (but also need to charge their electric vehicles), and want the lobby of their apartment community it look like […]<\/p>\n","protected":false},"author":413,"featured_media":8956,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[103,133,291,589],"class_list":["post-8848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-amenities","tag-demographics","tag-millennials","tag-multi-family"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Los Angeles\u2014Gen Y likes rooftop pools, multimedia-equipped fitness suites, concierge package service and the ability to order housekeeping for their\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amenity Arms Race\" \/>\n<meta property=\"og:description\" content=\"Los Angeles\u2014Gen Y likes rooftop pools, multimedia-equipped fitness suites, concierge package service and the ability to order housekeeping for their\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/amenity-arms-race\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2013-11-21T13:00:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-03T23:56:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2013\/11\/eleveglendale.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Leah Etling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Leah Etling\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/amenity-arms-race\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/amenity-arms-race\/\",\"name\":\"Amenity Arms Race - 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