Builders are struggling right now to put up entry-level homes at a reasonable price. The high costs of land, labor, materials, and regulation make building low-cost homes less lucrative for developers, shifting the market towards rental properties and apartment communities. With the current migration to the suburbs, renters are looking for additional space and a […]
Tag Archives: Marriott
Developers: Here is where to build in 2021
As discussed in a previous week’s newsletter about trending amenities, many aspects of American life have been significantly impacted by the pandemic, changing the way we live and work. Due to the shifting economy, rise in remote work opportunities, and desire to relocate to less densely populated areas, people have decided to move. Where is everybody going? Around […]
Developers: Amenities to include in your 2021 projects
The world of multifamily amenities has significantly changed in the past year and renters are willing to pay more if it means living in a unit that has premium amenities and upgrades that make their day-to-day lives easier and more enjoyable. In a Schlage and Wakefield Research survey of 1,000 U.S. multifamily renters, 86% of millennials say they […]
Developers: Let the robots do the parking!
As an avid AEC futurist, I frequently address the need to move from archaic construction methods to embrace all forms of construction technology. Enter Robots—perhaps the coolest technology of them all! But can they help you? A Robot That Parks My Car? With an automated parking system, it is possible! An automated parking system is a […]
Construction Costs are up 40% | Here’s what to do
Due to the challenges of the pandemic, the prices of construction materials are skyrocketing, and developers are trying to find safer and better ways to build. Back in a 2019 newsletter, I reported that construction costs had increased OVER 40% since 2013. While last year saw a less dramatic increase, the cost of construction continues to rise. COVID-19 has […]
Developers: Get More Apartments on Your Land
The demand for suburban multifamily dwellings, along with the rising costs of materials, have motivated developers to look for ways to build more units at a cheaper cost. It’s time to consider your building density! What is housing density? It’s the number of housing or dwelling units per acre of land. Different housing types require different densities, […]
Developers’ Update – Multifamily Apartment Size Trends
The high demand for multifamily buildings right now coincides with rising construction costs. What are some ways developers can mitigate the high cost of building? The answer might be in smartly sizing your units! Developers want to build a great building with lots of amenities and large units, but at a certain point, all that extra space results in […]
High Wood Prices = Opportunities In Steel
Back in my August newsletter, I stated that wood prices were up 140%. Since then, the numbers have gone up and down, and then back up again! Lumber prices that were around $600/tbf five months ago are now over $900/tbf. Commodity prices are three times higher than before the pandemic. The pandemic is upsetting global supply chains in […]
Virtual Reality | A Gamechanger For Developers
Today we dive into one amazing technological advancement that can help rent out your apartments before they are built and keep everyone safe while doing it! Virtual Reality Increases Pre-Leasing Speed. Virtual Reality (VR) is a Game Changer! VR is not just for video games—this technology has huge potential for getting your apartments leased even before they are […]
Latest Changes to the Housing Market: Migration to The Suburbs
The pandemic shook up how we live and boosted migration from the cities to the suburbs. Therefore, the multifamily market is set to drastically improve in 2021. But how can you build apartments and mitigate rising construction costs? After several months of shelter-in-place orders, the desire to have more space and the potential for more people to work remotely […]