A recent story in the New York Times, headlined “No Picket Fence: Younger Adults Opting to Rent,” caught our attention. We are seeing this story play out in our business every day.
From a national standpoint, millennials are choosing to rent rather than buy because of the difficulty of obtaining mortgages, a distrust of the real estate market since the recession and a desire to live in urban, walkable settings. Developers target in-town, overlooked project sites that are close to mass transit with high urban density. Landscape architects are tasked with designing creative solutions for outdoor, social spaces that will attract this new class of consumer.
Often, with space at a premium, outdoor amenities wind up on top of parking decks, roofdecks or in enclosed courtyards. Take a look:
Exterior amenities such as the ones listed above serve two major functions: they are cool to use and cool to look at. The residences have views that either look down onto these spaces or out across the city skyline.
Both 77 12th and Emory Point are ULI Atlanta Award of Excellence winners. In addition to these completed projects, we are currently creating other unique outdoor spaces in major markets such as Washington D.C., Nashville, Jacksonville, Charlotte, Chapel Hill and Miami.
More to come on those, plus the special challenges we encountered and the solutions we came up with.