“The steady decline of private spaces in houses bounded developers to offer common areas to look for original ways to “compensate” for that loss. In addition to this, amenities are the strongest weapon for positioning large-scale projects. This makes these spaces into strategic assets, since smaller-scale competitors (and self-construction) frequently have less room of maneuver to offer them, but preferable costs of manufacture.
In our creative work with exemplary architects and developers, we have the opportunity invent amenities that add value to the communities we create. In this article we present the 5 “new” amenities that have had the most echo in the market in 2016.
1. The Library of Things is being complemented now with Activities, Sports and Toys
The global trend of the sharing economy has found its way to real estate projects. In the past we had already applied the Library of Things to one of projects. In it, objects are centralized that residents use less than once a month (such as a drill, ladder or mixer). With that same idea in mind, we have now generated the activity library, the sports library and the library of toys. In the activity library one has access to a “menu” of entertainment activities for when you are bored in your apartment. In the case of the sports library, more than 100 “home” sports equipment are being made available, so that the resident can move them to its home and can exercise there comfortably. Finally, the toy library is meant to be a space for children’s toys that is constantly updated, where it even, forecasts their loss. The three new libraries exemplify that the principles of the sharing economy will continue to impact our real estate projects.
2. Private educational and edible parks
Green areas are always highly valued, but they need an upgrade. This is how these new parks come in which there are two fundamental changes. On one side all the vegetation is selected for edible fruits (thanks to Pablo Cofano from Argentina for this great idea) and the park can be a natural gastronomic tour. On the other hand, it integrates the ability to integrate learning vegetable gardens in the same areas. These learning gardens allow children to learn about food and the value of nature. In the United States these so called learning gardens are part of a movement that originated in the best schools in the country.
Finally, the millennials have arrived. This generation – which will be the most important in the purchase of housing in the years to come – demands different spaces. Their drive to work on passions, being freelancers or launching startups often leaves them without having an office. But they also don’t want to lock themselves up in a room to work. They desire the propinquity (See the article of this concept here), that reaction in which the community unleashes the spark of unexpected innovation. For all this, they need collaborative workspaces.
4. Car-sharing of leisure cars
We love challenging the traditional rules of real estate. Not all amenities that generate value are necessarily limited to architectural spaces of the project. In this case, a fleet of leisure cars revolutionizes the possibilities of residents. One project decided to buy 5 vehicles that are usually very desirable but not very functional. The cars we want to buy but that are not very useful for daily use, think of a mini cooper, a two-seater convertible, 4 × 4 SUV, etc. Each resident (of a project of 100 units) receives 4 days a year per car, in total 20 days all 5 cars combined. All participants together payed for the maintenance of the car fleet.
5. Social media ‘ready-event-space’
Event rooms are also being modified. Previously an empty room without decoration was delivered as an event room. Today this does not captivate customers. Today any social event requires a space that has the ability to make us take the phone to immortalize the moment. We need spaces with aggressive interiors, unique and authentic. Spaces that frame the personality of the building and its residents. We do not want event rooms; we want spaces of experiences. The developer who understands this new concept will work hard on the deco of the historical event room.
An important issue that we must not forget is the equipment of these areas. It hurts to see many places “wasted” because they were not given the right equipment, waiting for the resident owners to make the investment later. The intelligent developer prepares financially for this equipment and prepares the fee for a usage and adequate substitution of every requirement for these spaces.
Today, amenities represent between 7% and 9% of the salable area of residential projects, but they have a huge importance in the positioning of a project (in pre-sale or operation). The developer of the future will remember that you should seek to differentiate your project across all product levels.
If you want Grupo 4S to help your project generate value through unique, authentic and experience, do not hesitate to contact us.
* Carlos Muñoz 4S is obsessed with creating the community of the future. Their disruptive amenities have created better lives throughout Latin America. Find it at: firstname.lastname@example.org