Garden-style apartments are built primarily in the suburbs due to the space available for such developments in the suburbs. These buildings tend to take up more land but are usually only three or four stories tall which makes them ideal for suburban municipalities which have restrictions on building heights. Over the past year, there has been a rise in garden-style apartments with almost three-quarters of the top developers’ pipeline being suburban. Here are three reasons behind the booming popularity of suburban garden-style apartments and why developers should continue the trend.
Millennials
As the older group of the millennial generation approaches their forties, they are transitioning into new stages of life, looking for a higher quality of life with less congestion and more comfortable and convenient amenities. However, they are still primarily renters meaning that buying a house in the suburbs would be out of the question. Garden-style apartments thus come into the picture as they offer a convenient and comfortable living situation without the financial commitment in today’s turbulent economic climate.
Demand for Amenities
When it comes to amenities, garden-style apartments have an advantage over their taller high-rise counterparts. Due to the space available, they can offer a true patio or backyard that high-rises cannot. Garden-style apartments cater to residents who desire a sense of community and enjoy engaging with other residents. Many have been built with amenities in mind for residents to connect with integration with the surrounding neighborhood and a selection of health and wellness spaces as well as areas for entertainment, relaxation, and interaction. For example, larger courtyards and sky lounges have been built to cater to residents’ needs outside their apartments.
Plenty of Opportunities
Though garden-style apartments require more land, they are still at the top of the list of opportunities for developers as they require less time to build and allow for incremental turnover without too much construction disruption. They are also not subject to other codes that are implemented onto high-rise projects. Demand for garden-style apartments also remains high relative to the supply of units in the current market, which also means that newer garden-style apartments that come on the market have an advantage over the older ones. The establishment of newer, luxurious garden-style apartments has led to many investors and developers upgrading their units to improve their value and attract more tenants and take advantage of the higher rental ceiling.
Why US Framing?
When it comes to big multi-family urban infill like garden-style apartments, US Framing provides the utmost quality service. With over 40 years of experience, we are experts in the industry and have seen every possible type of wood. We work to ensure that all of our services exceed client expectations, completing the project in a timely fashion, with competitive pricing, quality of service, and being a company you can rely on. We take pride in all that we do, putting people first with the goal to create a better future for everyone who has worked with and for us and improve the industry as a whole.
