June 1st, 2019
In the last decade, there has been a big shift towards multifamily housing and mixed use designs in the Southeastern United States. This growing trend illustrates the future of the American family. The popularity of mixed-use properties have shown to high return on investment.
Today’s renters expect their environments to be useful and fun, from urban living spaces to modern office workspaces. Residents will look for well-balanced communities with high-tech amenities, hip restaurants, trendy shops, beautiful parks and close to public transportation.
“These days, the charge toward single-family residences in suburbia has shifted to urban apartments and condos. City condo and apartment projects are booming, and they’re including a lot of retail space. One of the bright spots for new retail development opportunities has come from a surprising source, a surge in multifamily construction. Apartments have become the darling of the real estate industry in recent years thanks to high demand from renters and rising rents. New apartment and condo developments are popping up in metros around the country,” according to Franchise Times.
Convenience of Walkability
Today’s consumers are making purposeful life choices to reduce their carbon footprint and taking advantage of the conveniences. Studies show both Baby Boomers and Millennials are the groups most interested in choosing to live within walking or cycling distance to work, entertainment, restaurants, and shops.
These groups also make up the largest group of renters, who are looking for amenities to fit their lifestyle. From mindful community spaces, fitness centers and spas with the latest equipment, bike stations and clubhouses, and designs to support a holistically approach to health and well-being.
New construction and renovations incorporating sustainable materials to optimize wellness are attractive to these types of tenants. Incorporating innovative office space, tree lined entryways, communal vegetable gardens, extra wide walkways, and open air seating areas, and multipurpose social rooms.
SWET Construction Group partners with owners of Multi-family housing and Urban Developments to increase their return on their investment. We offer competitive pricing, innovative practices, clear communications and a trusted partnership. We also provide insights, essential data, news and extensive information to better inform their clients and strengthen their market position.