Home News What’s in What’s out? What’s just plain useless?

What’s in What’s out? What’s just plain useless?

by admin
0 comment

real estate

Amenity floors may have once been reserved for the most luxurious condo developers, but are now standard offerings in many multi-dwelling developments.

Condo basement gyms are a thing of the past. Industry experts on condo amenities say unit owners want cardio with a view.

Condos in Greater Boston and Across America united states of america In recent years, it has evolved from just a place to live. Instead, many new developments include entire floors of amenities meant to keep residents entertained and busy, driving up asking prices for individual units.

Even a social area with cooking utensils, an Equinox-comparable fitness facility, and an arts and crafts room were all part of the building’s bonanza to bring more functionality to high-end residential buildings.

Amenity floors may have once been reserved for the most luxurious condo developers, but are now standard offerings in many multi-dwelling developments.

The functions of these buildings have evolved over time, and so have the preferences of their residents.

“Historically, condos have had very tight and focused amenity packages,” he said. Clara Weinbergis a principal of the architecture and design firm SCB and has designed projects such as Tribune Tower in Chicago, laurel Philadelphia, and hub 50 house Boston apartment. “Over the years, and as we’ve seen recently, there’s a much broader focus on public amenity spaces rather than individual units being their own paradise.”

Building amenities, such as home features, come and go in terms of popularity. A popular one at some point could become a condominium amenity version of the shag carpet.

It also takes various forms depending on the project.

“We have moved from just luxury buildings to serving other market segments. Ricardo RodriguezColdwell Banker Realty Realtor.

Shared lounge areas, gyms, outdoor spaces, and pet washing stations might be standard amenity packages in mid-range condo developments. But the more you pay, the more sophisticated these areas become.

The gym becomes a fitness studio with extensions like the Peloton Studio. According to Rodriguez, pet laundry stations evolve into dog salons with social areas for furry companions.

But in an era of fewer commutes and a greater need to work from home, that means an amenity floor is more than screening rooms and shared kitchens (although it’s nice to have them too).

“The biggest changes we see are related to the pandemic and working from home.” Ted TaiManaging Partner ink block Developer National Development said in an email. “With many people working from home at least part of the week, having a workspace inside or outside the living unit is a requirement, not a luxury.”

Shared offices, conference rooms, and even “Zoom rooms” are a must-have for new condos, Tye added. But potential buyers also want amenities that new office buildings have, such as luxury fitness facilities and outdoor spaces for fresh air.

Tennis courts, volleyball courts and movie theater rooms are increasingly underutilized, but demand for co-working spaces, pickleball courts and upscale outdoor entertainment spaces is on the rise, says real estate brokerage multifamily operations. Vice President, Mike Kidd said. Colliers.

Kidd added that tennis courts are sometimes repurposed for other facilities, such as pickleball courts and small dog parks, to drive up the price of the entire development.

A recent report from New York real estate platform StreetEasy A study of 55,000 condo sales in the city from June 2020 to August 2022 showed which amenities led to a price premium.

In-unit washers and dryers, gyms, pools, children’s playrooms, and doormen were the top amenities for units priced under $2.5 million. Private outdoor spaces, hot tubs, basketball courts, valet parking, and golf simulators top the list of units sold for over $2.5 million.

“The biggest changes we see are related to the pandemic and working from home.”

Ted Tye, National Development

“What we see in many of our projects is that the equipment almost replicates the feel of a country club program,” says Wineberg. “There is that kind of scalability that allows residents to decide how they use these common areas by their mood, rather than just ticking a box.”

Condo developers may have parked some communal grills outside for residents in previous projects, but today they feature a variety of appliances like those found in private homes. Outdoor kitchens are more popular.

An extended offering of its kind extends to the pool deck. One spot of immersion is not enough. Weinberg said condo developers are now looking at a variety of offerings with both pools for lounging and relaxation and pools for fitness.

While these may be the most-desired features in today’s condo amenity packages, there are some features that may not be as desirable as they used to be. Living-room-style common areas without co-working spaces, large lobbies, and hidden fitness rooms in basements no longer work, according to Tai.

After all, cardio needs views.

Rodriguez says the success of the amenities offering comes down to striking the right balance to achieve community within the realm of condominium-style vertical living. Previous amenity pushes may have focused on Lifestyles his program, which hosts events multiple times a week. Today, it’s less about scheduling and more about being aware of how residents use the entire space.

Build a communal kitchen and let residents decide when and how to use it.

“Real estate is always a value proposition. Location, condition, etc. are always very important. But over the last decade or more, this whole concept of comfort has really come into play,” said Rodriguez. . “The building’s amenities are now part of its value proposition as it provides a sense of community and a place where people can come together.”

send comment to [email protected].

const onetrustStorageConsent = JSON.parse(localStorage.getItem( 'consent_one_trust_bdc' ) ); /* Checking to see if the user has consented to the use of cookies. * If they have not, it is deleting the cookie. * This will comment for now, until further notice. */ //if ( onetrustStorageConsent.C0002 === false ) { // document.cookie="_fbp=;expires=Thu, 01 Jan 2010 00:00:00 UTC; path=/; domain=.boston.com"; //} /* Checking if the user has given consent for the cookie C0002. * If the user has given consent, the variable consent will be set to 'grant'. * If the user has not given consent,the variable consent will be set to 'revoke'. * Documentation https://developers.facebook.com/docs/meta-pixel/implementation/gdpr */ if ( ( onetrustStorageConsent !== null ) && (onetrustStorageConsent.C0002 !== true ) ) { consent="revoke"; }

!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function() {n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)} ;if(!f._fbq)f._fbq=n; n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window, document,'script','https://connect.facebook.net/en_US/fbevents.js'); fbq('consent', consent); fbq('init', '813236348753005'); fbq('track', "PageView");

You may also like