INTrend Multifamily Edition Vol. 4

MULTIFAMILY EDITION VOL. 4 SEE WHAT’S

IN

INTREND

WELCOME to the 4th Edition of INTrend!

Dear Valued Partners, I am delighted to introduce our 4th edition of INTrend. In this year’s book we are highlighting our approach to the Science of Design and the building blocks that blend emotion, function, passion, purpose and community. The Builders Design formula for great design reflects our ability to connect to today’s homeowner in the spaces we design.

Joe Duffus

With a legacy spanning nearly five decades, our dedication to excellence has positioned us as leaders in the field.

Staying ahead of industry trends is a perpetual journey for us, evident in this annual publication. We’ve invested in forging partnerships and conducting in-depth research, to become authorities in demographics, lifestyle trends, colors, patterns, and furnishings. Our goal is to excite and inspire you, providing new ways for you to impact your very own customer base. Our research-driven approach is also ingrained in every member of the Builders Design team, ensuring a consistent methodology across all facets of our work. This commitment guarantees synchronized timing, communication, and delivery, consistently surpassing expectations.

In 2023, we experienced one of our healthiest years in our remarkable 47-year history. Our model home division reached new heights, and our Multifamily Division is poised for robust growth and new opportunities. Looking ahead, our focus shifts to Technology, AI, and Operations.

A significant software upgrade is also underway, prioritizing the integration of AI applications to streamline day-to-day operations. This strategic move aligns with our vision for continued success, emphasizing innovation and efficiency.

We embark on this journey with confidence, anticipating a future marked by excellence and transformative progress.

Finally, I would like to share a heartfelt shout-out to our valued partners — THANK YOU! Your unwavering faith and trust in BD are the driving forces that keep us energized and poised for even greater achievements. As we navigate the evolving landscape of interior design, we continue to anchor our efforts with a focus on BD’s core values including Passion, Culture, Creativity, and Execution. Thank you for being an integral part of the Builders Design community — Here’s to much success in ‘24!

© 2024 Builders Design, LLC.

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TABLE

OF CONTENTS

INFORM

1

INFLUENCE

25

INSPIRE

47

INDULGE

67

INNOVATE

87

KEY TAKEAWAYS

103

BUILDERS DESIGN

BUILDERS DESIGN

© 2024 Builders Design, LLC.

EXPERIENCE IS WISDOM We have entered an age where data is everywhere, and competitive advantage is highly dependent on the ability to innovate. Knowledge relevant to new expectations is the key component of innovation.

INFORM 1

BUILDERS DESIGN BUILDERS DESIGN

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© 2024 Builders Design, LLC.

The DNA of Design Science The Builders Design formula for great multifamily design brings together a harmonious fusion of functionality, aesthetic appeal, and thoughtful consideration for the diverse needs of residents, creating a living environment that excels in both form and function. As we look further down to the DNA of Design, we find merging spaces and places with contrasting needs are what make a home, a sanctuary (or hive). The DNA building blocks include consideration of emotional and functional components, passion and purpose, and privacy and community elements when executing a thoughtful and strategic approach that connects great design and customers to a deeper level.

Passion & Purpose nurturing our need for passion areas as well as purposeful needs while applying sensory variability principles Emotional & Functional applying wellness principles to functional spaces through natural materials and the integration of light, utility and sensory excitement

INFORM

DNA

Building Blocks

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Privacy vs Community creating the balance between sanctuary spaces (privacy) and activity spaces (hive) for spatial harmony

ART & SCIENCE FUSION

Our Approach to Designing Multifamily Interiors Crafting Distinctive Multifamily Interiors: Merging Art and Science Embark on a design journey where creativity meets precision at Builders Design. We don’t just pursue interior design as an artistic venture; it’s a meticulous fusion of art and science. Our unparalleled approach integrates extensive research and scientific principles to elevate both the aesthetics and functionality of multifamily spaces.

Decades of Devotion: A Foundation in Research Excellence With a legacy spanning nearly two decades, our commitment to excellence has been unwavering.

We’ve heavily invested in forging partnerships and conducting in-depth research, establishing ourselves as authorities in demographics, lifestyle trends, colors, patterns, and furnishings. Our aim is to present spaces that resonate with individual preferences, creating a genuine sense of ‘home’ and providing effective ways for developers to connect with prospective residents.

Color

Dynamic Connections: Integrating Color and Lifestyle Recognizing the emotional impact of color and the significance of incorporating lifestyle elements into living spaces, we tailor our designs to forge meaningful connections. Acknowledging women as primary decision-makers in the multifamily living experience, we uniquely cater to their desires, ensuring that our designs resonate on a poignant level.

Fit & Finish Generations Collaboration

Unified Vision: Consistency Through Research Our research-driven approach is deeply embedded in every member of the Builders Design team, ensuring a consistent methodology across all facets of our work. This commitment guarantees synchronized timing, communication, and delivery, consistently surpassing expectations.

Research

Design Style Lifestyle

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© 2024 Builders Design, LLC.

The GENERATIONS

KIANA BOSMAN - UNSPLASH

INFORM

Each generation brings new needs and desires into home expectations and by understanding unique characteristics, it allows us to apply demographic analysis to the science of designing multifamily interior and amenity spaces.

ANDREW NEEL- UNSPLASH

KELLY SIKKEMA - UNSPLASH

Global From Birth

Gen Z

Millennials

(ages 0-15)

(ages 16-27)

(ages 28-48)

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Our research continues to track generational groups on a range of issues, behaviors and characteristics, allowing us to apply these insights to future home and community relevance.

SOME TALE - UNSPLASH

PROSTOCK-STUDIO

MIHAI LAZAR - UNSPLASH

Gen X

Baby Boomers

Prime Timers

(ages 49-58)

(ages 59-79)

(ages 80+)

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© 2024 Builders Design, LLC.

The Younger

GENERATIONS The younger age groups have faced recessions, a pandemic, high inflation and global unrest. Yet they remain our most creative and resilient generations.

Global From Birth (ages 0-15) • the first “screenager” cohort

• raised in the experience economy

• educate longer; earning later

• creative and resilient

• growing up in a world of scarcities

• value family, diversity & community

Gen Z (ages 16-27) • “first social media generation

• connected; smart tech is essential

• elongated single lifestage

• living sustainable lifestyles

• living at home until their later 20’s

• reimaging work & community

Millennials (ages 28-48) • only 53% so far are homeowners

VIVEK KUMAR - UNSPLASH

• leading society into a hybrid future • new daypart activity due to hybrid work

Between 2016 and 2021, renters living alone gained about 1 million people, reaching 16.7 million (up 6.7%). That’s the fastest-rising renter group during those five years. RENTCAFE

INFORM

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• finding design inspiration everywhere • marrying later, delaying children • climate concerns = resilient spaces

The Older

GENERATIONS The older age groups bring new expectations for today’s concerns –a space that brings comfort and luxury while offering safety, resilience and adaptability.

Gen X (ages 49-58) • “the busy household” – still working

• want creative and resilient spaces

• adopting multigenerational living

• entering peak earning years; trade-up

• need seamless indoor/outdoor living

• desire space flexibility as needs shift

Baby Boomers (ages 59-79) • “the lux home” in finishes, materials

• 25%+ desire a new home/lifestyle

• specialty rooms/areas (a wine cellar)

• first floor lifestyle, hobby spaces

• working longer, entertaining more

• places for grandchildren is a must

Prime Timers (ages 80+) • fueling the future “healthcare home”

• light, wider hallways, safer bath

• living longer in a senior life stage

• home tech brings new solutions

• need safety w/o sacrificing design

• future: robotic home helpers

FREEPIK

Baby Boomers make up the largest population of renters living alone in the U.S. (32.4%), or 5.3 million. Aging in place is more feasible these days, with the rise of smart home technologies. RENTCAFE 8

© 2024 Builders Design, LLC.

GLOBAL-FROM-BIRTH Brings Play

INDOOR PLAYROOM AT THE KENT VIA LX COLLECTION; PHOTO CREDIT EVAN JOSEPH

Multifamily is approaching kids’ rooms with the same care and attention to detail that they bring to every other amenity. Raising the bar for play and interactivity while also providing a safe hangout place.

STANCRAFT

INFORM

SCATOLA NERA - CASA FOA 2023

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GEN Z Drives Future Demand The Number of Millennial Renters has Peaked, Now Gen Z is Driving Renter Household Growth “After decades of driving growth, the number of renter households headed by millennials is declining.

Indeed, this large cohort has reached ages when more households are transitioning into homeownership rather than forming new renter households. Gen Z is now the only generation adding renter households, therefore demand for rental housing will continue to grow only if the number of new Gen Z renter households added outnumbers losses among older generations; those leaving rental due to transitions or mortality.” JSHS

ZILLOW RENTER REPORT 2023 RESULTS: • The typical US renter is 39 years old. Compared with the adult population, the renter population tends to be younger, more racially diverse and less likely to have ever been married.

• From a series of home characteristics, renters are most likely to say that a home that’s within their initial budget is very or extremely important (83%), followed by having their preferred number of bedrooms (69%).

• After years of falling or stagnant importance of common amenities like gyms and recreation space, 2023 saw the importance of these common amenities rebound – some to record levels. Despite this shift, however, the high importance of staying on budget still outpaces shared amenities.

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© 2024 Builders Design, LLC.

MILLENNIALS & New Desires Via Verde—The Green Way is an affordable, sustainable residential development providing healthy, urban living in the South Bronx.

The winning entry in the New Housing New York Legacy Competition, it reflects a public commitment to create the next generation of social housing.

Multifamily developers are trying to incorporate composting facilities, solar panels and electrical vehicle charging stations to reduce energy consumption.

Some of them are also using sustainable materials in their designs, such as green roofs or water harvesting systems, aiming for LEED or WELL certifications.

VIA VERDE—THE GREEN WAY

MULTIHOUSING NEWS

Beginning in the fall of 2024, a new modification to Austin’s recycling regulations will compel all multifamily housing buildings to collect residents’ compost.

INFORM

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GEN X & Leisure FROST DENMARK – HOTEL INTERIORS EXPERIENCE (HIX) SHOW 2023

BABY BOOMERS Go Lux The new retirement development, Ardency-Kennedy Place in Australia, mimics a 5-star hotel, including the advantage of onsite health, wellbeing, entertainment and beauty services complemented by a 12-hour daily concierge service, and private transport.

BUILDERS DESIGN

Busy household that values downtime this virtual reality technology helps you practice your game year round

ARDENCY KENNDY PLACE – NEW LUX MULTIFAMILY (MELBOURNE)

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© 2024 Builders Design, LLC.

ALONE + CONNECTED COMMUNITY

CREATING PRIVACY

APARTMENT U-SHAPED GLASS CURVES, NEUHAUSL HUNAL

HEALTH CONNECTIVITY NC Health System Launches Virtual Care Clinic in Apartment Building.

A new virtual care clinic operated by Atrium Health aims to provide Ascent Housing residents with community-based telemedicine.

The clinic includes an onsite healthcare technician, a medical professional, video visit capabilities, a telehealth platform, & other virtual care technology.

INFORM

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AFFORDABILITY + New CONCEPTS Builders need to be prepared for new iterations of intergenerational housing and multifamily developments – new typologies, amenities and services that meet the needs of tomorrow.

For younger adult generations, significant existing debts (in the form of student loans) and rapidly rising costs (due to both price inflation and the rise in interest rates) are making homeownership untenable in the short term.

Societal changes are also influencing the growing multifamily market – younger generations waiting longer to settle down and form families while older generations live longer, leading to more single households and a need for senior facilities.

New trends give rise to new types of multifamily housing. In the village of Oak Park, Illinois, a novel intergenerational cohousing development seeks to intentionally attract residents of diverse ages, addressing the housing stressors for older residents looking to downsize from single family homes and thereby making room for young families.

Residents will share responsibilities for maintaining common space and volunteer time and effort toward collective needs, including cleaning, cooking, and governance.

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© 2024 Builders Design, LLC.

MAINSTREAM + MEANINGFUL Cultural connections are the key to meaningful multifamily spaces

ORENDA AT OTHELLO SQUARE

INFORM

ORENDA AT OTHELLO SQUARE

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TECHNOLOGY + HUMANITY The IKON Global Innovation Centre in Ireland is a “living lab” that offers a real-world setting to measure a smart building’s efficiency. The detection of anonymized occupant movement can one day inform the creation of smarter, more energy-efficient buildings.

IKON GLOBAL INNOVATION CENTER

People-centric buildings are here today. The next step: structures that anticipate scenarios to proactively make life easier for every occupant.

Smart buildings use technologies like IoT, machine learning, automation, and BIM to optimize performance. Data-driven planning can make them even healthier, less wasteful, and more resilient.

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© 2024 Builders Design, LLC.

LUXURY + NEW AMENITIES Interestingly, a new study by Per Knightvest shows that more than half (59%) of surveyed renters say they choose to rent, rather than feeling like they are forced to rent. Among renters, 31% indicated that they feel ambivalent or disinterested in homeownership altogether. Most baby boomers surveyed (71%) said they owned a home prior to renting.

Their top reason for switching to an apartment was lower maintenance and repair responsibilities. Boomers also tended to value the community aspect of renting. Seventy-eight percent of Baby Boomers said they valued social interaction within rental communities. VIA MULTIFAMILY EXECUTIVE

A new luxury skyscraper apartment complex to be built in Dubai will include a host of unique amenities, such as: • cigar lounge • splash pools • tennis and paddle tennis courts • state-of-the-art juice bar • live cooking stations with signature chefs • sky garden and pool • private beach access • services: room decorating, personal training, laundry, event planning, babysitting, in-house nurse, in-room chef and housekeeping.

INFORM

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SKYSCRAPER + LUXURY + INNOVATION

Luxurious Mercedes-Benz Residences to Grace Dubai’s Skyline by 2026

A new venture by Mercedes-Benz in the realm of real estate is set to grace the Dubai skyline with the introduction of a luxurious apartment complex. Standing tall at 65 stories, the skyscraper will bear the fitting name of Mercedes-Benz Places. This marks the prestigious automaker’s foray into the world of property development, embracing the ‘Sensual Purity’ design philosophy that seamlessly blends timeless elegance with modern functionality.

The project vows to infuse the skyscraper with opulence and cutting-edge innovation. Mercedes-Benz Places is designed to incorporate smart home technology, intelligent mobility solutions, and upscale amenities, promising a refined and sophisticated living experience. Currently under construction, the tower is scheduled for completion in 2026, aiming to redefine upscale living and contribute another architectural gem to Dubai’s skyline.

BINGHATTI DEVELOPERS / PR NEWSWIRE UK

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© 2024 Builders Design, LLC.

SUSTAINABILITY + MATERIALS + PRODUCT Yi Design, a Chinese materials company established by curator and artist Caroline Cheng and designer Karl Yin, has introduced an innovative solution to address the issue of ceramic waste by creating waterpermeable bricks named Permeable YiBrick.

PERMEABLE YIBRICK

These bricks are composed of 90% recycled ceramic waste sourced from industrial porcelain manufacturers. The Permeable YiBrick presents an eco-friendly alternative by repurposing this waste into functional bricks with water-permeable properties.

UBIQUITOUS ENERGY

Ubiquitous Energy has developed the only patented and transparent photovoltaic glass coating that harnesses solar power to generate electricity.

Windows with the technology look and feel like traditional windows, plus they make electricity.

GAUZY SMART GLASS

CERAMIN TILES COLLECTION FROM THE CLASSEN GROUP

Introduced at China Fair 2023, Gauzy’s latest advancements in Polymer Dispersed Liquid Crystal (PDLC) and Suspended Particle Device (SPD) smart glass technologies enable glass to switch from transparent to opaque in milliseconds, providing users with privacy, sun control, and energy efficiency at the touch of a button.

INFORM

With its Ceramin® Tiles collection, the Classen Group has created a 100% recyclable alternative to ceramic tiles and natural stone. Ceramin® is comparatively thin, significantly lighter than ceramic tiles and therefore very easy to install.

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NOOK ARCHITECTS

GET CREATIVE A little door in the side wall of the closet folds away a desk

NOOK ARCHITECTS

MAKE USE OF VERTICAL SPACE Using wallscaping to add function – in this case another workspace as needed

NOOK ARCHITECTS

SLIDING DOORS Two bedrooms connected by sliding doors

SPACE + INNOVATION 20

© 2024 Builders Design, LLC.

TECHNOLOGY + SECURITY

INDOOR DRONE SECURITY FROM INDOOR ROBOTICS

ICT PROTÉGÉ WIRELESS LOCKING RANGE

Perimeter to penthouse Indoor drones are on patrol, flying in a building near you Indoor drones developed by Israeli startup Indoor Robotics are on security patrol. The job they do has traditionally been carried out either through human inspections or by fixed security cameras. The AI-powered drones drop from their ceiling-mounted docking stations autonomously, fly their pre-planned route and raise an alert if they spot intruders, doors that should be closed, maintenance issues, missing fire extinguishers and more.

INFORM

ICT Protégé Wireless Locks enable property managers and security installers to provide a modern multifamily living or smart office experience. Designed to complement the aesthetics of any space with customization options available to suit your unique taste.

Smart card technology enables a one card solution for both our physical and mobile credentials, enabling you to use one credential for wired and wireless ICT doors. Tenants can now go from the lobby to their living rooms using one credential. No juggling keys or cards.

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NATIONAL EFFICIENCY + REGIONAL APPEAL

THRIVE LIVING

RAY PHILLY ART STUDIO

Thrive Living announced early last year their plans for an 800-unit apartment complex with a Costco on its ground floor in Baldwin Hills, LA. The project if approved would be composed of prefabricated modular units.

Design, art and decor in multifamily housing creates a sense of community. By incorporating elements that reflect local culture and history, residents feel a connection to their surroundings.

Located in Philadelphia’s burgeoning North American Street creative corridor, Ray—a brand rooted in hospitality, art, and design—has debuted its first residential building, Ray Philly. The building includes six ground-floor art studios, a commercial space, and a free communal art studio (or makerspace) for residents.

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© 2024 Builders Design, LLC.

TOP TRENDS for 2024

A look at the top trending style directions for the next year and beyond, from a range of modern to new hints of heritage design.

LIGHTESS

INFORM

ARCH DAILY - AIM ARCHITECTURE

ELECTRIC BOWERY

Balanced Modern

Moody Modern

Crafted Camp

minimal modern luxe

dreamy clean tech-inspired

casual curated outdoorsy

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Country Club Aesthetic “TikTok calls this Tenniscore, and though it’s mainly a fashion trend, we’re loving incorporating the racquet club aesthetic into our interior styling. ” STUDIO MCGEE

BUILDERS DESIGN

HOTEL REGINA - BIARITZ

WOUD

Country Club

New Boho

Expressive Elegance

romantic heritage glamour

70s bohemian new nautical

bold dressy luxe

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© 2024 Builders Design, LLC.

CONTRASTS COEXIST Challenges and innovations coexist within multifamily housing as it remains a strong future asset class. With many still locked out of the housing market and renting longer, they look to an upgraded experience from multifamily. An aging society is fueling the luxury segment while delays in marriage and children keep rental unit demand strong.

INFLUENCE 25

BUILDERS DESIGN

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© 2024 Builders Design, LLC.

Next Gen:

KEY STORIES The Belden-Stratford, an iconic Beaux-Arts apartment property in Chicago’s Lincoln Park neighborhood, has reopened its doors following a top-to-bottom renovation. Among the many lux amenities is a wine tasting room and private wine storage room.

INFLUENCE

THE BELDEN –STRATFORD INDIVIDUAL WINE STORAGE ROOM

LONG-TERM OUTLOOK Demand & absorption for multifamily remains strong, even in the face of record supply, and likely to stay that way for years.

DIVERSIFICATION The category continues to expand with Co-living, BTR, Branding and Mixed Commercial usage; expect more iterations.

COMMUNITY TIES Going local is trending; not only with design tie-ins among materials, color and art; but also, the ability to have some communal spaces that are open to the public.

NEW EXPECTATIONS Moving from ‘nice-to-have’ to ‘must-have’ is smart tech, experience amenity spaces, EV chargers, creative design & building sustainability.

DESIGN IMMERSION A rising differentiator in both communal and private spaces is elevated design via space usage, materials, color and neuroaesthetics.

FUTURE PIONEERS New developments into this sector brings modular construction, creative mixeduse, relationships with nearby commercial entities & more.

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Next Gen:

Yes, the market will soften, but the reality is that the U.S. needs to build 4.3 million new apartments by 2035 to make up for a current shortage and account for future demand and affordability. GLOBEST 11/27/2023

AFFORDABILITY

Strategies to Reduce Multifamily Construction Costs 1.

OPTIMIZE THE DESIGN PROCESS Choose the right architectural team, utilize value engineering, opt for efficient building shapes, prioritize energy efficiency

6.

CONSIDER FINANCING OPTIONS Seek government incentives, explore private financing options

2.

SELECT THE RIGHT BUILDING MATERIALS Use prefabricated materials, consider alternative materials, buy in bulk

7.

PLAN FOR LONGEVITY Build with durability in mind, implement preventative maintenance practices

3.

STREAMLINE THE CONSTRUCTION PROCESS Utilize construction management software, implement lean construction techniques, maximize on-site effciency

8.

OPTIMIZE UNIT LAYOUTS Maximize usable space, opt for open-floor plans MANAGE RISK Obtain adequate insurance coverage, implement safety protocols

4.

HIRE THE RIGHT CONSTRUCTION TEAM Vet your contractors thoroughly, encourage collaboration, offer incentives for on-time completion

9.

5.

FOCUS ON AFFORDABILITY Target a specific market segment, opt for moderate finishes, limit shared amenities

10. CONTINUOUSLY EVALUATE YOUR PROGRESS Monitor construction progress, learn from past projects

MICHAEL GRATTERI, REAL ESTATE INVESTOR & PROP TECH LEADER https://www.linkedin.com/pulse/10-strategies-reduce-multifamily-construction-costs-gratteri/ note: more detail in the link

AERTSEN

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© 2024 Builders Design, LLC.

Next Gen:

BUILD-TO-RENT

Build to Rent has been a success because it carved out a new market for itself and now there are individuals, couples and families actively choosing the concept as a preference, not as a second best to home ownership.

Marquette Companies broke ground on The Sylvan, a build-to-rent community consisting of 300 housing units - single-family homes, townhomes and apartments. On-site amenities include a clubhouse, pool, fitness center, cold plunge, infrared sauna and various walking paths.

INFLUENCE

Among 3,300 renters surveyed, 78% are interested in living in a Single-Family Rental community. RENTCAFE

Fix.com estimated number of BTR homes started in the last five years based on data from the Census and the National Association of Homebuilders (NAHB).

With the next generation of renters likely to rent longer before transitioning to homeownership, catering to the needs of renters makes sense, and experts feel the sector will moderate somewhat but continue to remain a strong and permanent part of the home ecosystem.

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Next Gen: CONSTRUCTION

RENCO MCFR is a state-of-the-art structural building system comprised of interlocking composite building units of various types and sizes of blocks, columns, beams, joists, headers, decking, connectors, etc.

Thermulon is deploying aerogel insulation to provide greater energy efficiency in the built environment. With a nanoporous structure, aerogel is both fire resistant and highly effective at minimizing heat transfer: half an inch of wall aerogel insulation coupled with window aerogel insulation can reduce heat energy loss from the home by over 20%.

These products are all adhesively joined (chemically bonded) to form monolithic structures. The only tools a crew of about 11 workers needed were glue guns to dispense an adhesive and rubber mallets to nudge the blocks into final position.

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© 2024 Builders Design, LLC.

Next Gen:

CO-LIVING

Co-Living: more younger generations are embracing the idea of trading apartment space for social amenities and communal space within an apartment building.

These are tech-savvy buildings, built for the newest generations. Typically, AI-powered technology streamlines the initial search process, while smart home innovations like automated temperature control, lighting and smart locks enhance convenience and energy efficiency.

The addition of hotel-like amenities, high-speed internet, community events, regular cleaning services and flexible short-term leases further enriches the offering. MULTIFAMILY NEWS

Designed for students, corporate transferees and others in search of flexible, turnkey housing, Post Chicago offers 107 residential units whose bedrooms – between two and four per unit – are fully furnished and individually leased, with rents starting at $1,375 per month. Co-living residents share access to a furnished living room, kitchen and in-unit washer/dryer, as well as a bathroom for those who don’t have their own ensuite bath.

INFLUENCE

POST CHICAGO IN LINCOLN PARK

Residents also benefit from weekly cleaning service, a community app and full suite of building amenities, including a fitness center, lounge areas for working and socializing, a rooftop deck with grilling stations, bike room with repair station and package room. There will be 43 paid parking spaces available for resident use.

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Next Gen: STUDENT HOUSING Studies say that young people aged 16 to 24 feel lonelier than any other age group, including people aged 65 and over. Student housing is now focused on communal spaces, with outdoor areas, wellness centers, common areas for recreation and study, and coffee bars a must for students today, as opposed to pools, movie theatres and tanning areas that were in demand a few years ago.

Preleasing for the 2024-2025 school year started off extremely strong, reaching 25.2% for the Yardi 200 in October 2023, well ahead of last year’s recordsetting pace of 10.4% preleased in October 2022.

Preleasing this year is indicative of solid renewal activity early on and robust demand for housing at many major universities, with 14 schools already more than 40% preleased. YARDI MATRIX

Developer Mosaic Investment Partners has hired SVA Architects for work on Tessera, a new residential complex at the University of Southern California’s main campus.

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© 2024 Builders Design, LLC.

Next Gen:

CONVERSION SPACE

The Deloitte Center for Financial Services predicts that office-to-residential conversions could become profitable within the next five years. They estimate that around 14,700 affordable units in central business district (CBD) areas across the country can be added by 2030, assuming approximately 20% of converted square footage can be earmarked for affordable housing.

RENDERING 25 WATER STREET

The biggest conversion project in the country to date is 25 Water Street in NYC. It will transform a former office building into 1,300 new apartments over the next two years.

INFLUENCE

TCA ARCHITECTS

A new apartment complex made from an old Sears is part of a push to update defunct retail spaces across the country into housing to alleviate the ongoing housing crisis. A new report from the nonprofit Enterprise Community Partners estimates that nationwide, repurposing 10% of strip mall space could create more than 700,000 new apartments. While converting strip malls alone won’t cover the US’ estimated 3.8 million housing units needed, coupling the updated strip malls with retrofitted office buildings may make a sizable dent. FAST COMPANY 33

Next Gen:

MIXED-USE

Sungard Property Group has plans for a build-to-rent (BTR) project in the heart of Brisbane, Australia. The proposed Winn Street BTR development will deliver 396 light-filled residential apartments in studio, one, two and three-bedroom configurations across two towers. A 3-story podium will house retail, grocery, cafe and wellness areas on the ground floor as well as commercial spaces on the first level, which will include offices, coworking spaces, and conference and lounge facilities, among others.

CHRIST CHRIST ARCHITECTS

The city of Wiesbaden Germany is developing a multifamily residential complex with a daycare center located on the ground floor. The differentiated sequence of the building structures creates a spatial separation between the daycare center outdoor area and the apartments, contributing to improving the harmony between the different areas (daycare and residential use). A rooftop garden for the tenants is planned on the roof of the daycare center.

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© 2024 Builders Design, LLC.

Next Gen: TRANSFORMATION The average age of a first-time home buyer is 36, but 73% of Americans think it’s much younger. REAL ESTATE WITCH

ALENCAR ARQUITETURA

CREATIVE KIDS’ SPACES

HIVEBOXX- UNSPLASH

RENTING LONGER

INFLUENCE

BUILDERS DESIGN

BUILDERS DESIGN

INDOOR/OUTDOOR LIVING GETS STRONGER

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COURTING BOOMERS WITH 5-STAR AMENITIES

Next Gen: WELLBEING

“All the elements that surround us indoors — air quality, water quality, lighting, thermal, acoustics, biophilic elements, etc. have a direct impact on our respiratory, cardiovascular, immune, cognitive, digestive, and sleep health outcomes.“ THE INTERNATIONAL WELLBEING INSTITUTE

Pocket Sliding Door systems provide a stylish and contemporary design and are the perfect solution where space saving is the upmost importance.

On average a sliding door system can save 7% of the overall floor area.

VIA FIT SHOW 2023 UK

OMNITONE FROM BILLI’S (AU)

New on the Australian market is OmniOne from Billie’s, a range of filtered drinking water systems for residential and commercial settings that will offer boiling, chilled and sparkling filtered drinking water, from a single under-bench module with a streamlined design. The system will take up to 30% less space, boasts over 40% more capacity of chilled and sparkling water outputs via a unique water-cooling technology, and has a whisper-quiet operation among other new features.

SALICE EXEDRA2 DOUBLE POCKET DOOR SYSTEM

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© 2024 Builders Design, LLC.

Next Gen: NEUROAESTHETICS Neuroaesthetics is an area of study that explores the effect that colors, lighting, textures, sounds and the shapes of rooms can have on our sense of wellbeing. In simple terms, neuroaesthetics explores the effect that beauty and art have on the human brain.

This emerging field explores the idea that spaces can be more than functional; can have a positive impact on our emotional wellbeing. The science applies throughout an environment in different ways; such as how to make a bedroom a place of calm but a home office an energizing space. FASHION SNOOPS

BUILDERS DESIGN

BUILDERS DESIGN

Curved contours are perceived to be more pleasant and comforting than rectilinear contours.

INFLUENCE

Employing neuroaesthetic principles is more than the color of the walls. It is a rethinking of design that takes all sensory cues into account to provide the optimal experience, using shape, texture, lighting and color.

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Next Gen: PROPERTY PERSONA Savills PLC, the global property advisor and agent, estimated that from 2010 there had been an increase of branded residences to 38,900 units across more than 200 developments in the U.S. A Savills director, Rico Picenoni, told the Journal that 80% of branded residences are affiliated, and often collocated with, a hotel.

Two Roads Development has successfully launched three branded residential projects: • EDITION Residences in Miami, a 600-ft-tall, 58-story tower with 185 condos. EDITION is a Marriott brand, and this will be its first tower in Florida that’s condosonly. (To be completed in four years) • Pendry Residences in Tampa Bay, a 38-story tower with 207 luxury condos and a 220-key five-star hotel, that’s scheduled for completion in 2027.

• Two Roads Development is also part of the development team that includes Four Seasons Hotels & Resorts, Luxus Development, and Azure Resorts & Hotels on a $1 billion branded condominium project in Henderson, Nev., called Four Seasons Private Residences Las Vegas, with 171 condos in two towers and six standalone villas. BDC NETWORK BALCONIES AT PENDRY RESIDENCES OVERLOOK TAMPA BAY VIA BDC NETWORK

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Next Gen: CREATIVITY

LITTLEMORE INTERIOR DESIGN – CUSTOM YOGA WALL

Inspiring residents how private space can multitask as needed

INFLUENCE

ONE CROWN PLACE APARTMENTS - LONDON

Interior doors that can close and open as needed

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Next Gen: ASPIRATIONAL

OLYMPIA BY FORTIS PROPERTY GROUP,

OLYMPIA BY FORTIS PROPERTY GROUP,

The average square footage for the units inside the building is 2,023.

A new 33-story condominium in Dumbo Brooklyn is the definition of luxury. The Olympia has several amenity and community gathering spaces spread over three floors. The Garden has custom built-in banquettes, a private landscaped garden with curated plantings, a porte cochere, and a pet spa. The Bridge has a 60-foot-long two-lane indoor pool, dry sauna, juice bar, outdoor tennis court, 58-foot-long outdoor pool and hot tub. The Club floor has a shipwreck playground for children, a water park, a movement studio, boxing gym and a twolane bowling alley.

OLYMPIA BY FORTIS PROPERTY GROUP,

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Next Gen:

AMENITIES BUILDERS DESIGN

For the second consecutive year, Grubb Properties and Wakefield Research polled 1,000 American renters aged 22–35 in apartment communities to gauge their attitudes and perspectives on the current rental and economic environment.

This year, the firm further refined the survey group to those living in apartment communities of 10 units or more in the 100 largest US metropolitan areas.

https://discover.grubbproperties.com/rentersurvey-2023 download for more data

INFLUENCE

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Next Gen: EXPERIENCES Communal Area – Music Room

Fun Seating for Kids’ Playroom

YELLOWTRACE

Music is taking on an increasing role in multifamily developments; a way to increase connectedness, advance creativity and benefit personal wellbeing.

One of the newer amenities, music rooms popping up are not a surprise as we are in the Experience Economy with our first rising Creative Class.

HUNDRED MILE HOME

Among all apartment households, 19% have children (NMHC 2022 data). It is the rise of multifamily parents with kids that has in part fueled the rise of Build-To-Rent, allowing private yards and more space. As we see a rise in Baby Boomers in multifamily buildings, expect kids’ playrooms to continue to be important – and more lux!

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Integrating Art

BUILDERS DESIGN

From on-site galleries to murals on the sides of buildings, developers are using works of art — often created by local artists — to draw in renters and connect them with the surrounding community. MULTIFAMILY DIVE

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Next Gen: FITNESS

Gyms are no longer just a place to work out; they are now being used as a hub for wellness programs.

Many multifamily communities offer nutrition, stress management, and mindfulness classes to help residents live a balanced and healthy lifestyle. Virtual fitness classes have grown in popularity in recent years, and this trend is now making its way into multifamily gyms. With virtual classes, residents can join live, interactive fitness sessions from the comfort of their own homes or in the gym and enjoy the benefits of a group workout.

ARDENT FITNESS

CUNNINGHAM RECREATION

An alternative to indoor gyms, outdoor fitness parks can help stay connected to healthy communities, lower stress and crime rates, provide a space for training, and provides families and pets a happier, healthier lifestyle.

BUILDERS DESIGN

INFLUENCE

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Next Gen:

DELIVERY

Mail rooms use to be back-of-house affairs hidden from residents. They are now being replaced by advanced package and mail delivery rooms that permit building residents round-the-clock access to their packages, dry cleaning and chilled groceries. Next up is the multifunctioning mailroom that may also encompass specific drop-off areas for food deliveries from restaurant take-out and meal-prep delivery services. As we see more advances in multifamily security technology, residents can allow temporary visitor passcodes or easily access authentication for those needing to enter the apartment for deliveries.

BUILDERS DESIGN

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Next Gen: CLIMATE Shayp (Belgium) has developed AI software and easy-to-install hardware to autonomously detect water leaks in buildings, resulting in water savings of 22%, on average. Water leakage in buildings is not only a waste of water resources, but also expensive — both because of the direct cost of water and the resulting property damage.

The startup helps building owners avoid hidden leaks; achieving an average payback period of under 12 months.

Frontline Wildfire Defense is a startup that makes a rooftop sprinkler system to protect homes from wildfires. The system soaks the building and a 30-foot buffer around it with either water or a biodegradable firefighting foam.

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Next Gen: NO WASTE Technology is playing an increasingly pivotal role in architecture, engineering and construction of residential buildings. For instance, construction companies are advancing safety and productivity through such innovations as Water Hero, which delivers real-time water consumption data into a smartphone’s web interface.

Growing Multifamily Eco Strategies:

“The user receives an alert when a leak is detected, and the water is immediately shut off,” says Andrew D’Amico, founding president and CEO of New York City-based boutique construction management firm Urban Atelier Group, which has integrated Water Hero into one of its New York City residential developments.

• Reducing the lawn footprint and replace plants with more drought-tolerant foliage.

• Replace each unit’s toilet with an efficient dual-flush model that uses half the amount of water, offering an ROI of merely one year.

• Energy efficiency strategies that utilize the significant advancements made in building envelope design, LED lighting, and HVAC systems.

• Green roofing that facilitates stormwater runoff and helps reduce the heat effect.

• Installing water-conserving, low-flow faucets, shower heads and toilets and Energy Star appliances.

• Using smart thermostats in apartment homes and common areas.

WATER HERO

Leak detection that protects from water damage & high water bills • Non-invasive & invasive models • Whole building, flow based • User configurable • Robust “utility grade” hardware • Full size range of 3/4” to 8” units

MARGOT RICHARD - UNSPLASH

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PLACES FOR PEOPLE The new design direction for multifamily takes a ‘people first’ approach to space planning and amenities, creating new social hubs.

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INSPIRE

BUILDERS DESIGN

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WHAT’S NOW & WHAT’S NEXT In today’s fast-changing world, success is based on relevant insights; i.e., the why behind the what, where change is needed, who is driving innovation and when to react.

Fast learning has become a priceless skill and that is why Builders Design has built its 41+ year foundation on consumer research, understanding and future multifamily inspiration. To quote Albert Einstein, “the measure of intelligence is the ability to change” and the following pages provide not only what is trending, but also inspiration for the next generation of relevance in multifamily design.

SPACESTOR

NOW: Clean & Curved

INSPIRE

ROCKWELL GROUP - NYC

NEXT: Expressive & Angular

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Multi-purpose Spaces

KITCHENS + LOUNGES MERGE Kitchen spaces extend into lounges creating a home-like destination

THE CROSSING OF CHINO HILLS

BUILDERS DESIGN

BUILDERS DESIGN

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Multi-purpose Spaces

“Sheraton Hotels & Hello Sunshine’s Reese’s Book Club to bring global communities together through a shared love of books”

LOBBY LIBRARIES

VIA MARRIOTT

SHERATON HOTEL X HELLO SUNSHINE

BUILDERS DESIGN

INSPIRE

WEST RESIDENCE CLUB – GLASSHOUSE LIBRARY

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Multi-purpose Spaces GLAM GAMEROOMS Recreation amenities continue and become design focal points

BUILDERS DESIGN

“Billiards are ranked as the most popular (65.6%) recreation amenity.” 2023 MULTIFAMILY ANNUAL REPORT BUILDERS DESIGN

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Multi-purpose Spaces VR MEDIA ROOMS

BUILDERS DESIGN

WORLD WIDE STEREO

VR headsets are more mainstream, resulting in ultimate gaming, streaming, and total immersion experiences INSPIRE

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Multi-purpose Spaces MAILROOM MURALS Mail and parcel pickup is getting a makeover with murals and high-end materials

ASPIRE GULCH - NASHVILLE

BUILDERS DESIGN

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Amenity Design Trends to Watch POCKET GARDENS are the GREEN WALL

MADERA GARDENS APARTMENTS

Pocket gardens in multifamily carve out niches for green space BOOKING.COM HQ

Small green (pocket gardens) within spaces bring a natural respite INSPIRE

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Alina residences has a halo-himalayan salt therapy room with infrared relaxing beds

Amenity Design Trends to Watch

SERENE SALT ROOMS

RESIDENCES KIERLAND - SCOTTSDALE

ALINA RESIDENCES – BOCA RATON

Halotherapy is another wellness amenity that may ease respiratory issues 56

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Amenity Design Trends to Watch STACKED SPACES Gyms and spas are providing bundled settings, allowing stacked services to save time and space

Soaking Tub S10 GYM & RECOVERY SPA

Changing Area

SHIBUYA SAUNAS

INSPIRE

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Steam Shower

Infrared Sauna

“Nearly half (47%) of Americans say practices like stretching and restorative yoga are very important to them.” MINDBODY

BUILDERS DESIGN

ONE THIRD YOGA

Amenity Design Trends to Watch

FITNESS SPACES GO MINIMAL Soft fitness leads to soft design for exercise rooms 58

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Amenity Design Trends to Watch

THE LUXURY REPAIR CONCIERGE New amenity inspiration – luxury brands are turning repair into an elegant experience

BUILDERS DESIGN

LOEWE

“Legacy brands are transforming maintenance into a luxury experience”. FRAME WEB SUNVILLA SOLAR CHARGING TOOL SHED

INSPIRE

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Amenity Design Trends to Watch

PET SPAS GO LUXE

Pet amenities have gone wild, from dog schools, pet happy hours, giant rooftop parks to luxury spas

Luxury pet spas have become a practical on-site amenity

ASPIRE GULCH - NASHVILLE

“In 2023 66% of U.S. Households own a pet.” STATISTA BUILDERS DESIGN

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Outdoor Amenity Design Trends to Watch

DESIGNER OUTDOOR LOUNGES Exotic outdoor lounge spaces are providing a connection to fashion, fine dining, and beachside bliss

GIORGIO ARMANI – ST. TROPEZ

“Outdoor lounges are ranked as the most popular (86.5%) outdoor amenity.” 2023 MULTIFAMILY ANNUAL REPORT BOTTEGA LOUIE

INSPIRE

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Outdoor Amenity Design Trends to Watch

NEW AUXILLARY SPACES

From private spaces to parties

TREX-DEL-RAY-TOWER

“During the pandemic, many properties beefed up their outdoor spaces, adding grilling stations and refreshing other communal gathering spots to help residents spend more time outdoors—and provide some much-needed socialization. Today, those spaces can be reactivated through collaborations with local chefs and restaurants to host cooking demonstrations or wine tastings, enhancing the sense of community and connection within and outside the property.” FORBES NOVEMBER 2023

MALCOLM DAVIS – WINE BARN

WINE BARNS: ‘wine barns’ are a hot new amenity poised to expand to mixed use spaces

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Outdoor Amenity Design Trends to Watch

PLAYFUL PAVEMENT

THE OTHER NEST – 100 ARCHITECTS

ARAUNA STUDIO

“The other nest project embodies the concept of urban toys for the city.” 100 ARCHITECTS

MAXIMIZE PATHWAYS Make the in-between spaces matter with well-appointed pathways At the new Tommy Bahama resort in Indian Wells, Californa – an easy lifestyle is infused into outdoor amenities TOMMY BAHAMA RESORT

INSPIRE

TOMMY BAHAMA RESORT

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Private Spaces MAKE ROOM

FOR ALCOVES

RYAN DYER

NATI MINAS & STUDIO 7

New nooks carve out space for function while adding character 64

Make room for the new kitchen alcove. “Dynamic range hoods” are a top trend for 2024. VIA HOUSE BEAUTIFUL

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Private Spaces

SERENE KITCHENS

BUILDERS DESIGN

CURBED NYC

Kitchens set the tone for soft, subtle and serene living spaces

INSPIRE

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Private Spaces

DRESSING UP THE BATH

VIRGINIA POH – EAGLE CONSTRUCTION

COLE & SON

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Art, wallpaper and decorative accessories find a new home in the bathroom

BUILDERS DESIGN

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MATERIALS MATTER Statement materials, whether bold or soft, are defining spaces

INDULGE 67

BUILDERS DESIGN

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The DNA of COLOR Designing with color as a science involves a systematic and informed approach, taking into account the emotional, cultural, and psychological aspects of color. By doing so, designers can create more meaningful and impactful visual experiences that resonate with their audience.

INDULGE

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2024 COLORS OF THE YEAR:

SHERWIN WILLIAMS UPWARD

C2 THERMAL

BENJAMIN MOORE BLUE NOVA

WGSN 2025 FUTURE DUSK

AKZO NOBEL SWEET EMBRACE

VALSPAR RENEW BLUE

DUNN-EDWARDS SKIPPING STONES

DUTCH BOY IRONSIDE

PPG LIMITLESS

HGTV PERSIMMON

RUSTOLEUM WALLS CHOCOLATE CHERRY

BEHR CRACKED PEPPER

2024 IS THE YEAR OF ALL SHADES BLUE, Looking to natures misty clouds, evening skies and glacier lakes.

SHERWIN WILLIAMS 2024 COTY UPWARD

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HERITAGE Blues

A classic and harmonious combination, timeless blues pair up with warm, neutral brown shades

BABY BLUE EYES SW 9070

BUILDERS DESIGN

DHURRIE BEIGE SW 7524

THRESHOLD TAUPE SW 7501

FOOTHILLS SW 7514

BUILDERS DESIGN

REVEL SW 6530

“Blue balances modern and heritage influences.”

COLOUR INSIGHTS

INDULGE

*INDIGO SW 6531

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BUILDERS DESIGN * I ndicates from new 2024 Colormix Forecast

LUXURY Neutrals

New hints of color used as neutrals

*FLEUR DE SEL SW 7666

BUILDERS DESIGN

CHATURA GRAY SW 9169

COOL BEIGE SW 9086

*FIREWEED SW 6328

BUILDERS DESIGN

*SMOKY AZURITE SW 9148

LAGOON * I ndicates from new SW 6480 2024 Colormix Forecast

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BUILDERS DESIGN

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Remix REGENCY

A sense of history updated with new pale accents

*SNOWBOUND SW 7004

*CARNELIAN SW 7580

TASSEL SW 6369

*MODERN GRAY SW 7632

BUILDERS DESIGN

*UPWARD SW 6239 COTY

BUILDERS DESIGN

*GEORGIAN BAY SW 6509

INDULGE

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* I ndicates from new 2024 Colormix Forecast

BUILDERS DESIGN

Softly CINEMATIC

A subtle sense of drama grounds community spaces

*HERON PLUME SW 6070

BUILDERS DESIGN *BILLIARD GREEN SW 0016

PRACTICAL BEIGE SW6100

FOXY SW 6333

BUILDERS DESIGN

PORTABELLO SW 6102

*ROCK BOTTOM SW 7062 * I ndicates from new 2024 Colormix Forecast

BUILDERS DESIGN

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ORGANIC Neutrals

Biophilic neutrals take on a warm glow

*STARDEW SW 9138

*EVERGREEN FOG SW 9130

AT EASE SOLDER SW 9127

*MOSSY GOLD SW 6139

BUILDERS DESIGN

*PALM LEAF SW 7735

*ANTIQUARIAN BROWN SW 0045

INDULGE

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BUILDERS DESIGN

* I ndicates from new 2024 Colormix Forecast

Fit + Finish BALANCED MODERN

BUILDERS DESIGN

HBF - NEOCON

BUILDERS DESIGN

HAMILTON SINKLER

Light, airy & livable BUILDERS DESIGN

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Fit + Finish MOODY MODERN Dark, durable, & luxe

BALDWIN – BLACKENED NICKEL

BUILDERS DESIGN

BUILDERS DESIGN

INDULGE

BUILDERS DESIGN

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Fit + Finish CRAFTED CAMP

A-N-D

ROOM & BOARD BUSINESS NEOCON

TWENTIETH GALLERY – ART BASEL

BUILDERS DESIGN

Crafted, casual materials go luxe

INTERESTING AQUA SW 6220 BUSTER + PUNCH

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Fit + Finish NEW BOHEMIAN

INTERFACE - NEOCON SALIMA FILALI DESIGN - ICFF

CERAMICA MEDITERANEA – MAISON & OBJET

THREE H - NEOCON

INDULGE

Easy exotics and earthy eclectic

CURIOSA – CLERKENWELL DESIGN WEEK

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BELMOND MARONA

NAXOS - COVERINGS

EMIL GROUP - COVERINGS

VISUAL COMFORT

Fit + Finish EXPRESSIVE ELEGANCE

Comfortably Luxe & Warm

LIFEHOUSE - BERKSHIRES

ACOUFELT

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Fit + Finish COUNTRY CLUB

THREE H - NEOCON

BUILDERS DESIGN

BUILDERS DESIGN

FRONT & YORK

MCGEE & CO.

Clubby classics & modern accents

EVOLVE LIGHTING

INDULGE

SUMMER THORNTON

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Fit + Finish Units PRIVATE + SERENE

In-unit design goes soft

BUILDERS DESIGN

MARC ODOM

WOW DESIGN - COVERINGS

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BDI – HIGH POINT

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Fit + Finish Exteriors

A RETURN TO TIMELESS Exteriors go ‘back to basics’ with classic materials used in new, creative ways

BELDEN STRATFORD

THE OWO LONDON

THE OWO LONDON

The OWO London stands for “Old Churchill War Offices” and is newly refurbished as a hotel and residences with a sense of luxury heritage

INDULGE

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Fit + Finish Exteriors BRICKS Go BOLD “Not your basic brick” KINNEY BLOCK

EPITESZ STUDIO

KINNEY BLOCK

CONCRETE COLLABORATIVE

STUDIO GROOVIDO

WOOD Brings Warmth Wood moves from an accent to a main material

HEBEL

LUNAWOOD

MARK ODOMMARK ODOM

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Fit + Finish Common Spaces

STATEMENT + FLOORS

BUILDERS DESIGN

BUILDERS DESIGN

INDULGE

BUILDERS DESIGN

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Indoors and out, statement floors bring pattern back

Fit + Finish Outdoor Spaces

PLACEMAKING + MATERIALS Statement materials help make outdoor spaces into destination places

FORNACE BRIONI

CAESARSTONE

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PEOPLE + MACHINES People and machines will never interface in the same way again, because it’s not the same machine and people’s behaviors have changed. ACCENTURE 2024 TRENDS

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BUILDERS DESIGN

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SMART TECH Preferences • Gen Z expects smart home features and is willing to pay more.

• 51% of renters would pay for electric doorbells and cameras.

• 56% of Gen Z would pay extra for eco-friendly features.

• 79% of renters prefer contacting property managers via direct message or chat. REALPAGE

Level has announced a doorbell camera exclusively for multifamily buildings.

Residents can use the Level app to peer through the doorbell camera and speak with visitors on the other side.

The press release adds that the camera includes “package identification intelligence” to notify residents when deliveries have arrived.

LEVEL

INNOVATE

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SMART DEVICE Usage

Some residents say they'll pay as much as 15% more for a full package of 'smart capabilities’

SAFETY AND SECURITY ARE KEY BENEFITS Nearly half of survey respondents (48%) said "Receiving notifications about safety issues" was the top benefit of using smart home devices.

A similar percentage (47%) said that "Monitoring activity outside my door" was a crucial benefit of using smart home devices.

PARKS ASSOCIATES / ADT SURVEY

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Addressing the

WIFI PROBLEM Only 1% of renters can roam their apartment communities with uninterrupted Wi-Fi service and 3% have access to modern-managed Wi-Fi. However, 79% of renters are interested in seamless connectivity. SMARTRENT

SMARTRENT

UNSPLASH

INNOVATE

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Through the SmartRent app, residents can initiate Community WiFi with no need to set up an installation appointment. Offering up to 1 GB connection speeds, the service is comparable with individual in-home plans. A consistent connection encompasses the entire community, including amenities, common areas, and office spaces, so residents and on-site staff aren’t required to connect to various routers as they move about the property. Reliable connectivity also enables WiFi calling, making it essential in areas with marginal cellular reception.

AUTOMATION

Creating a more comfortable living space means tenants are more likely to stay in the property and be more willing to pay a higher rent. YIELD PRO

RESIDEO / FORD VIA THE VERGE

YIELD PRO

Ford is partnering with smart thermostat maker Resideo to use energy stored in your EV to heat and cool your home.

Automation is one of the best-kept secrets of those running successful multifamily units. Heating and cooling are two of the biggest costs for residential units, and smart thermostats can reduce energy waste, especially in communal areas, saving property managers 16-23 percent on energy bills a month. YIELD PRO

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FACIAL RECOGNITION

AQARA XIAOMI

The Aqara Video Doorbell G4 recognizes up to 30 different faces by way of its AI-based face recognition algorithms letting you mark the faces of your family members and frequent visitors in Aqara Home app reducing false alerts in the process.

INNOVATE

Xiaomi’s new Smart Door Lock M20 Pro includes automatic facial recognition for known users. The lock’s built-in display screen allows residents to check who is at the door.

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WELLNESS TECH AKRA in Toronto will focus on residents’ wellbeing when it opens in 2026. Expect herbal and Zen gardens, a lobby lighting system pre-programmed to support healthy circadian rhythms, and a dedicated spa.

“Investing in wellness is no longer a nice-to-have, it’s a fundamental feature that guides how people live in a pandemic-influenced world.”

BORIS MATHIAS, CHAPI CHAPO DESIGN

AKRA TORONTO

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ACCESS FOR SERVICES Latch, the commercial access company run by the founder of Ring, is expanding beyond smart locks. The company announced that it’s rebranding to Door. com with the goal of offering an overarching platform that gives independent service workers, like drivers, housekeepers, and dog walkers, a platform to grow their businesses.

LATCH

INNOVATE

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The Clubhouse

LEASING OFFICE

CITIZEN W10

Sharing Economy

SELLING

In Denver, the Citizen W10’s Gear Room can be seen from the building’s lobby as an incentive for prospective tenants.

TOLL BROTHERS

Toll Brothers amenity and gathering spaces often double as leasing or building concierge spaces: 96

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SMART PARKING DESIGNATE MONITOR ENHANCE SAFETY

TOLL BROTHERS

PARKING BOSS

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A growing trend, Smart Parking has smart sensors installed throughout the parking area and are connected to a wireless hub inside the leasing office.

This gives the staff ability to issue specific parking spaces and can also monitor who is parking in them and allows unauthorized traffic to be mitigated.

The AI AGENT

A Multi-Housing News poll asked readers how they are using artificial intelligence in their business operations. Marketing and outreach were the main uses among respondents, likely due to the versatility, cost-efficiency and ease of use of tools like chatbots, social media curation and automated messages.

Colleen AI, the fully integrated, AI-powered platform solution optimizing collections, announced the debut of Lease AI to streamline and optimize the highly manual, business-critical lease renewal process at scale.

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LEASING TECH That Converts • 16% say inattentive property management is a top three dealbreaker when considering a future place of residence.

• More than three in four respondents are at least somewhat comfortable with all four self-guided tour scenarios below, and less than 10% are either somewhat or very uncomfortable with them.

1. Taking a self-guided tour that allows you to freely explore a community 2. Taking a self-guided tour with detailed instructions on what you can explore 3. Living in a community that allows potential tenants to explore the area on a self-guided tour 4. Taking a self-guided tour and having the ability to immediately sign a lease before leaving

• Residents with incomes of over $100,000 per year are statistically more comfortable navigating self-guided tours and signing a lease directly following.

• When asked how valuable different amenities were in a future residence, a streamlined resident portal app was ranked number one with 39% of respondents saying it was a must-have and 50% a nice-to-have. ALLEGION 2023 TRENDS

INNOVATE

RentRedi has added new customization features to its software, further easing the rental process for both landlords and renters. Landlords and property managers can now build their own pre-qualification and application processes that best serve their individual needs and help them attract and identify more qualified tenants.

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Tour24 announced the release of its new platform, Explore, that offers wayfinding, enhanced images and audio and vacant unit management.

SELF GUIDED Tours

Rently recently optimized its popular self-guided touring solution with new “Wayfinding” navigation technology to ensure a positive renter experience. The feature appears on their app as a map and shows them the best route to the units, as well as other points of interest. Once a renter has completed a tour, Rently’s Wayfinding technology guides them back to the parking area or to a community lockbox.

Tour24 user statistics show that 75% of tours are scheduled and completed on the same day, 54% are within one hour, and a whopping 36% of all tours are within 15 minutes. More than a third of tours occur outside business hours, representing leads that would have been missed without Tour24. 31% of tour participants apply to lease at the end of their tours.

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VIRTUAL TOUR

In a 2023 digital media trends report, Deloitte found that onethird of people in the U.S. consider online experiences to be meaningful replacements for in-person experiences, with half of Gen Z and Millennials feeling this way. DELOITTE

Cortland is conducting more virtual property tours, something the industry began fully developing in the days of pandemic restrictions. While some potential new renters still want an in-person tour, many consumers are comfortable with a digital experience.

“If you’re thinking about making reservations for dinner, you don’t call any more and you don’t walk into the restaurant. You do it online.”

SCOTT MOORE, CTO, CORTLAND

CORTLAND

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The TIKTOK TOUR

Gen X uses tech for rental searches, while Gen Z focuses on community and on social channels. REALPAGE

With rent on the rise, wages flatlining and inventory tight – would be renters are looking for inspiration for where to live in unlikely places.

Caleb Simpson is a content creator with millions of followers and his most popular video format is asking strangers what they pay in rent and if he can tour the place.

Some viewers are grateful: it turns out their apartment is a sweet deal compared to others.

Some find inspiration: if someone else can make a micro-apartment work, maybe they can, too.

Caleb now makes up to $100,000 a month from brand deals and payouts from the platforms themselves with Barbara Corcoran, of the New York City real-estate firm The Corcoran Group, as his first high-profile collaborator.

WASHINGTON POST / CALEB SIMPSON TIKTOK

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KEY TAKEAWAYS What’s New & What’s Next Amenities

Connected

Meaningful

As people rent for longer periods and multifamily demographics expand into the lux segment, experiential amenities and elevated design are bringing residents willing to pay a premium for high-quality experiences..

Spending more time at home, increased functions and expectations paired with what’s next (smart, healthy, experiential, generational) brings new meaning for what we want and desire in our spaces.

• Using Tech for Security Solutions

Even before the onset of the COVID-19 pandemic, approximately half of U.S. adults reported experiencing measurable levels of loneliness. Data shows that social connection is beneficial for individual health and improves the resilience of our communities. .

• Create the ‘Leasing Clubhouse’

• Elevated Design Brings Excitement

• Seamless Indoor & Outdoor Spaces

• Specialty Zones for Alone or Together

• Creative Spaces for Leisure Time

• Elevated Design Reimagines Spaces • The Smart Unit that Learns

• Work Doesn’t Have to be Isolating

BUILDERS DESIGN

BUILDERS DESIGN TOLL BROTHERS

SCHLAGE

BUILDERS DESIGN

BUILDERS DESIGN

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PSYCH GENIE

BUILDERS DESIGN

KEY CHALLENGES

in Designing Multifamily Housing

Designing spaces for multifamily housing involves addressing various challenges to create attractive, functional, and desirable environments for residents.

• SPACE OPTIMIZATION: Maximizing functionality within limited square footage requires creative solutions for storage, furniture arrangement, and multifunctional areas.

• INCLUSIVITY AND ACCESSIBILITY: Designing inclusive spaces with accessible entrances, elevators, and common areas accommodates diverse needs.

• COMMUNITY INTEGRATION: Fostering a sense of community through well-designed communal spaces like common areas, shared gardens, or co-working spaces is vital for a thriving multifamily community.

• TECHNOLOGY INTEGRATION: Keeping up with technological advancements, like smart home technologies, is a challenge that enhances the overall design.

• PRIVACY CONCERNS: Balancing the need for privacy with communal living involves designing layouts that provide private spaces within units while offering communal areas for socializing.

• AFFORDABILITY: Balancing cost-effective design with quality ensures multifamily housing remains affordable for a diverse range of residents.

• FLEXIBILITY AND ADAPTABILITY: Designing spaces that can adapt to different lifestyles and changing needs over time is achieved through flexible layouts, convertible furniture, and adaptable spaces.

• NATURAL LIGHT AND VENTILATION: Maximizing natural light and ventilation in dense urban environments requires thoughtful design with large windows, open layouts, and outdoor spaces.

• AESTHETICS AND BRANDING: Creating aesthetically pleasing environments consistent with the brand and identity of the development contributes to a cohesive and attractive living experience.

• SUSTAINABILITY AND ENERGY EFFICIENCY: Integrating sustainable design practices, such as eco-friendly materials and energy-efficient systems, is crucial for reducing environmental impact.

• SAFETY AND SECURITY: Balancing an open and welcoming environment with effective security measures is crucial for resident well-being.

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