Top Trends in Multifamily Housing – Part I

Sub­mit­ted By: Jere­my Sell­ers, Chan­nel Vice Pres­i­dent of Mul­ti­fam­i­ly & Home­build­ing, Wolf Home Prod­ucts

Today’s guest post by Jere­my Sell­ers of Wolf Home Prod­ucts high­lights four trends in mul­ti­fam­i­ly hous­ing, from con­sumers look­ing for that 10-minute bub­ble to lux­u­ri­ous fin­ish­es in apart­ments.

 

  1. The 10-Minute Bub­ble: The 10-minute bub­ble is some­thing that didn’t exist when our par­ents were grow­ing up. The 10-minute bub­ble sim­ply means that con­sumers expect to have access to all their wants and needs with­in 10 min­utes of their apart­ment com­plex. This means that great restau­rants, bars, gyms, and gro­cery stores must be locat­ed just around the cor­ner, elim­i­nat­ing the need to dri­ve on a packed high­way to get to the clos­est salon or local Tar­get. The apart­ment liv­ing lifestyle has giv­en con­sumers exact­ly what they want with­in a walk­ing dis­tance. Deliv­er­ing on that con­ve­nience, the apart­ment busi­ness has been boom­ing over the past five years — devel­op­ers have built over 2.1 mil­lion units since 2012. Many of these units are rent­ed by the con­sumers in the mil­len­ni­al gen­er­a­tion who pre­fer the flex­i­bil­i­ty of rent­ing while enjoy­ing the lux­u­ri­ous lifestyle being cre­at­ed by forward-thinking devel­op­ers. Experts pre­dict that even with a slight cool­ing in demand, devel­op­ers will still build over 1.3 mil­lion new units through 2020.
  2. Lux­u­ri­ous Com­mon Areas: Mul­ti­fam­i­ly liv­ing has ful­ly embraced fun com­mon areas. This has been a grow­ing trend for years but today, every new com­mu­ni­ty seems to be one-upping their neigh­bor with ameni­ties. Com­mon areas are decked out with bright­ly col­ored car­pet, durable fur­ni­ture, and large tele­vi­sions. Devel­op­ers have even start­ed to incor­po­rate many cre­ative ameni­ties in these lux­u­ri­ous com­mon areas, includ­ing per­son­al shop­pers, pet groom­ing, rock climb­ing walls, fit­ness cen­ters – even bowl­ing alleys.
  3. Euro­pean Inte­ri­or Fin­ish­es: Inte­ri­or fin­ish­es in apart­ments are always chang­ing in response to the newest trends, col­ors, or styles. The first thing that comes to mind is the change in inte­ri­or apart­ment floor­ing. It’s no longer a 2 ½” light brown plank – it’s an exot­ic Euro­pean style larg­er plank that can get as thick as 5” – 7”. The same is true when it comes to kitchen cab­i­nets or van­i­ties in apart­ment units. The apart­ment mar­ket is no longer a tra­di­tion­al cab­i­net door that comes in clas­sic brown or red hues. The apart­ment mar­ket has trend­ed to light col­or slab cab­i­net doors or exot­ic grained cab­i­nets sim­i­lar to the pho­to you see below of Wolf Tran­si­tion Cab­i­nets. 
  4. Con­crete as a work of art: When we think of con­crete, we often think of a patio, side­walk, or oth­er non-descript com­mer­cial struc­ture. Today, the indus­tri­al design move­ment has gone main­stream, and con­crete is con­sid­ered a chic, urban look with unfin­ished appeal, mak­ing walls and floors pieces of art.

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