LOS ANGELES—Demand from both individual renters and investors for apartment homes and buildings has intensified and with that has come consumer demand for better amenities that fit their individual needs. So how are developers incorporating some of the latest innovations in smart technology into buildings? A panel of experts at Thursday's RealShare Apartments event took on that question and says they are using other tactics to boost interest.
Panelist Jennifer Staciokas, senior vice president of marketing and training at Pinnacle, says that instead of thinking about how to differentiate amenities in buildings, one of the company's recent focuses has been to think about events. She points out that the company has done partnerships with Yelp and Citywide, for example, to host events. “It is great buzz and PR and they take care of the majority of the marketing,” she said. “You just provide the space and invite the residents.”
She also pointed to other events, like Mixology Mondays or Facebook Live events, to help increase exposure and buzz of a property.
“We also like to bundle resident services,” she explained. Pinnacle has talked to groups like a pet concierge company, and it is also in talks with Wag, the 'Uber for dog walking.' Another company the company has talked with is a luxury car rental company, where you can either put your car into the pool or rent one for the night. “We are looking to offer unique services like that to renters.” She adds that those types of services have little to no impact on the company's budget, but is a differentiator for its space.
Staciokas and panelist Philip Wiegand, VP of capital markets for multifamily at Transwestern, note that a lot of the boomers that are living in that type of rental environment are interested in participating. “It transcends generations,” says Staciokas. Wiegand adds that “we shouldn't underestimate the baby boomer demand.”
For Wiegand, as far as key amenities the firm is looking at, he said the usual amenities are still key such as a pool, fitness center, walkability, luxury and affordability. He also pointed out that having a concierge was important.
Joe Gambill, a development associate at Wood Partners, explained that as for the space itself, flexibility is key. He pointed out that at one of the firm's buildings in Seattle, for example, the lobby is a lobby during the day, but acts more as an event space at night.
Wood Partners has also been big on events as of late and also implanted a program for resident to learn about and become more involved in the community. “We have done charitable events and have found success in bringing things like that to a property.”
Check back with GlobeSt.com to learn more about the multifamily market from the two-day RealShare Apartments 2017 event.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
