According to the National Multifamily Housing Council (NMHC), the demand for apartment and multi-family housing has been steadily on the rise, and nearly 4.6 million units will need to be built by the year 2030 to keep up with demand.

Walkability, technology, and other amenities are leading the demand, as well as the desire for a live/work/play atmosphere. But not every development can support onsite amenities like a yoga studio or doggy daycare.

So what amenities can residential developers consider to attract buyers and improve their bottom line?

Community Spaces

Of course, everyone loves a pool. But a gathering space as simple as a common grill area with outdoor seating can bring a ton of value to homeowners at minimal cost to builders.

Common areas provide a place to entertain as well as a cost-savings for homeowners. Because things like parks, gyms, and cookout patios function like as extension of their living space, homeowners may happier in less space.

In-building business centers are also on the uptick.  Even a small conference room with amenities like a projector and whiteboard can be a huge motivator to a buyer in today’s growing work-at-home demographic.

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Bike Racks

Millennials and younger generations are increasingly turning to alternative modes of transportation. both for environmental reasons as well as cost savings. Bike racks encourage the use of bikes and also help alleviate storage issues.

Modern bike rack design can double as artwork, providing an aesthetic bonus to a property and buildings can often qualify for a LEED credit when they provide secure parking for bicycles outside their building entrance.

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Mailboxes and Package Storage

The growth, and popularity of ecommerce has led the way to an increased demand for package storage, and package theft has driven the need for security.

As a result, solutions like the Florence MyPackageConcierge can add a ton of value for homeowners at a low cost to builder. These solutions are easy to use and can be integrated into the design of houses, condos, and even many types of apartments. The result is a clean aesthetic and secure package solution that can be managed by each resident.

Cluster mailboxes can also add value to a neighborhood by creating a cleaner aesthetic and more secure mail delivery to one central—and hopefully well-lit—area.

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Storage Lockers & Bays

In urban areas, space comes at a premium, and storage becomes more important for residents willing to sacrifice space for prime locations. Storage lockers can be a great way to store seasonal items and a simple value-added amenity for developers.

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Smart Devices

Many of today’s homebuyers grew up with technology, and they’re increasingly looking to leverage modern tech to make their lives easier.

Smart Home devices like thermostats, keyless door locks, wireless smoke alarms, are becoming popular upgrades. WiFi-ready devices like these are easy to install, relatively inexpensive, and give homes a decidedly modern appeal—especially if they work together.

Residential developers are always challenged to create unique properties with desirable amenities in order to remain competitive. Today’s far-out feature can become tomorrow’s standard amenity. But, by always considering the modern lifestyle, developers can identify high-value, low-cost upgrades to delight buyers. Secure package boxes, bike racks, common areas, and Smart Home features can help builders increase the value and profitability of their projects.