Resort-style amenities were once a standard for condo projects, but today, buyers are looking for more service-style and unique amenities. These amenities—things like yoga classes, chef kitchens, social spaces and delivery systems—have become essential in capturing condo buyers. Millennials are poised to become one of the largest groups of condo buyers in the next few years, and the demographic will be looking for a well-rounded set of amenities.

“We’ve done a number of focus groups on this topic and found that buyers are in search of upscale amenities and services offered on-site that cater to their own needs and lifestyles,” Alana Mann, president and owner of The Statesman Group, tells GlobeSt.com. “That’s why, we’ve incorporated a range of services into our amenity offering like a concierge who can handle booking dinner reservations, a full-time Community Manger who oversees the property day and night for peace of mind and a VIP program that gives residents access to restaurants and things to do within the neighborhood at a discounted price. The Community Manager is also in charge of scheduling private and community-wide events to bring the neighbors closer together.”

While Mann says that resort-style amenities are still important, and shouldn’t go away, millennials are looking for amenities that can provide convenience above all. “As people’s schedules become more and more hectic, they are looking for easy conveniences that will make their day-to-days easier,” she says. “That’s where the services come in to play. If a buyer can have someone else make a dinner reservation or tell them the best spots in town to check out when their family comes to visit, it’s one less thing they have to worry about.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.