PHILADELPHIA, PA—Millennials value high quality rental properties more than home ownership, says Bradley J. Korman, co-chief executive officer, Korman Communities, and one of the panelists featured at ALM's RealShare PHILADELPHIA Conference February 10 at the historic Union League Club. Korman argues that multifamily property owners and developers should invest in upgrades to their properties to make them more attractive to Millennials and empty-nest renters who want luxury features and upscale amenities.
In comments provided exclusively to GlobeSt.com in advance of his appearance at the conference, Korman says “I'm a firm believer that the apartment market has changed as younger renters come into the workforce. Their American Dream doesn't include purchasing a home and staying there for the next 30 years. The worker in their 20's is looking to rent a nice apartment, with real amenities, high quality finishes, state of the art technology and they are willing to pay for it. These millenials value the ability to pick up and move without worrying about selling their house.”
Korman will join moderator Jonathan Grosser, partner, chair, Real Estate Practice Group
Stradley Ronon Stevens & Young, LLP; and panelists Arthur Pasquarella, executive vice president and chief operating officer of Equus Capital Partners, Ltd.; Chip Walters, chief investment officer, Keystone Property Group; and Robert W. Walters, executive managing director, CBRE on an Industry Leaders Panel scheduled to start at 8:05 a.m. The conference kicks off Tuesday, February 10 at 7:30 am at the Union League Club, 140 South Broad Street, Philadelphia.
“As owners, we need to make sure we are balancing the amenities and services that this group is looking for, with the needs and wants of the empty-nester renter who is also coming back to the market,” says Korman. “We believe that investing in your properties to meet the needs of these renters will be money well spent.”
More information on the RealShare PHILADELPHIA Conference is available at http://www.globest.com/events/realshare_event/philadelphia/RealShare-Philadelphia-2015-352566.html.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
