Every generation has a different view on what amenities are important for multifamily living. When it comes to the latest generation, it’s less about fancy cars and large families and more about individualism and community involvement. The properties you build should reflect solutions to these needs.
The Intersection of Generation Z and Millenials
Generation Z is typically considered individuals born between the years 1996 and 2010. Millennials are the generation right before and have been most famous for depending on living with the parental units when the economy and job market was slow. Millennials are now enjoying the robust economy and have opted to move out into multifamily dwellings. Generation Z is growing up in a healthy economy and moving from high school to apartment life. Both generations have much of the same concerns, but Generation Z will be the ultimate future of your Multifamily dwelling investment.
Why the Parking Garage is Not Such a Needed Amenity
Generation Z is not in any particular rush to purchase vehicles or gain a license to drive. Many prefer to take a taxi, bus, ride-share, or ride a bicycle to their destination. It makes placement of your multifamily properties even more important than ever before. Having them close to the necessary elements of shopping, dry-cleaners, and employment hot-spots more important than designated car parking spaces.
Blending the Ability to Stay Technologically Connected
Incorporating as much AI as you can into the building will e appealing to the Z generation renters. Smart technology is one way to get their interest in a hurry. Being able to use voice recognition, be able to choose their own music through voice command and control appliances with smart technology, the more you’ll have a full house.
Bringing a Safe Community Environment to Life
Having community nooks that cater to the different personality types is a plus. Generation Z values the feeling of community with like-minded individuals. Some people prefer quiet relaxation areas, whereas others like to a more boisterous environment. Providing comfortable, well-lit areas that accommodate both needs comfortably.