As multifamily apartments and condominium developments continue to come online, competition for tenants and buyers increases exponentially. In a buyer’s market, the right mix of amenities and branding can make a difference in leasing statistics for building managers and owners.
Today’s millennial generation is overwhelmingly deciding to rent instead of own, especially in cities like Boston. Community spaces can give your development a step up in today’s market where renters are looking for a lifestyle, not just an apartment.
National Development’s goal for two of its existing properties was to upgrade public and common spaces to develop a branded experience, with useful, inviting spaces for tenants to gather and relax outside their apartments. PCA was brought in to renovate the interior public spaces of the Element Apartments and two buildings at Station Landing to create interesting and hip common spaces attractive to today’s renter.
Previously, Element’s community spaces were underutilized – the fitness room was oversized, a media / movie room sat vacant and the lobby suffered from poor organization and flow. In addition, National Development needed to find room in the building for a central leasing office to manage their newly acquired Allston Green District properties.
At Station Landing, a mixed use development, there was a challenge in renovating underused, formerly retail/restaurant spaces for residential use, all while the apartment buildings were occupied.
In both developments, the design team worked together to solve problems and find creative solutions, from drapery to glazing, partitions to flooring, and wall coverings to lighting. The new design incorporates a mix of natural, industrial and modern finishes to create a new vibe, contemporizing the apartment building to appeal to today’s millennial renters.