John Burns Real Estate Consulting did a recent interesting analysis of several sold-out projects in the single-family rental space. It found that cutting costs in designing and building a community development doesn't automatically translate into lesser perceived value.
Three features that fell to the wayside were a private primary bathroom, a private yard, and a garage.
"Eagle Ridge at Tehaleh, south of Seattle, offered two plans (out of five total) in their first phase where the primary and secondary bedrooms shared a bathroom," the firm wrote. "While not a common tradeoff, it targeted the apartment buyer who was already accustomed to a 1-bath residence." With prices starting in the $400,000s, the builder reported that models with shared bathrooms were as successful as conventional plans.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 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.
