Architects focus on designing multifamily projects people can identify with and that they’ll want to share with friends and family. After all, people’s homes say something about not only where they are in their lives now, but where they’re going, as well.

For the 2017 Multifamily Executive Concept Community, BGO Architects built on this idea by designing a community that brings together four types of properties and, with them, four types of tenants.

Concept Community developer JPI profiles the demographics behind each of these properties and the tenants for whom they’re targeted.

The Studio
The first property, The Studio, is a three-story container-built project. It offers the most affordable rents in the community and so therefore is meant to appeal to young, price-sensitive tenants.

JPI calls this tenant “Bobby Kappa,” a recent college graduate in sports marketing, fashion, or architecture. Creative and fun-loving, with an enthusiasm for the outdoors, Bobby, despite his youth, is comfortable in his own skin, has lots of friends, and is socially active.

Bobby is single, living on his own for the first time. He wants the privacy of his own place for the independence it conveys and to reflect his personal style. Bobby wants to travel, enjoy life, and embrace and protect nature and resources in every aspect of life. By choosing to live in The Studio, he’s sending a message about his commitment to a sustainable future.

Just starting out on his own, Bobby feels the world is his oyster—he’s experiencing a steady income for the first time, in a new career, raking in an annual $40,000 to $55,000 and already thinking about climbing the corporate ladder.

The Townhome
The Townhome is a three-story modular building that was fabricated off-site. It commands higher rents than The Studio and therefore attracts renters who are much more settled in their careers and lifestyles. These residents are a mix of young families along with empty-nesters who are downsizing from larger properties and, in many cases, homeownership.

JPI has named these renters “Graham and Shelly Johnson,” known to their neighbors as a young married couple or an older empty-nester couple. They’re seasoned professionals, have pets they adore, and enjoy sustainable gardening. They focus their financial portfolios in alternative-energy investments.

Graham and Shelly love community and the feel of having close-knit neighbors as they work on connecting and growing their relationships in the new neighborhood.

This working family’s income ranges from $180,000 to $250,000, so price wasn’t their primary priority when they sought new housing. They have considerable discretionary income and appreciate high-quality finishes in their home, the low noise level that comes with quality construction, and the builder’s use of recycled and sustainable materials.

The Wrap
The Wrap consists of five stories built using engineered-steel–panelized construction. The panels were fabricated off-site and then delivered to the jobsite and set in place, in order to create efficiencies in the building process. All the kitchens and baths are cartridges manufactured in a factory and shipped to the site with all the necessary plumbing and technology already in place.

The Wrap commands an upper-end rent and attracts tenants like the one JPI calls “Peyton Meridian,” who represents the most diverse demographic of the four.

The Peytons of the community are finding success either as recent college graduates, empty-nesters, or in other roles in which they’ve found affluence, and they are ultimately renters by choice. They want privacy and moments of seclusion but know that an urban lifestyle will offer the conveniences they desire. Peytons enjoy their neighbors, as well as the community’s amenities.

Generally, Peytons split time commuting to and from work via public transportation and their own car. Part of this demographic’s pride is being part of the local scene. Peytons like to dine at local hideouts and drink craft beer and good wine, and they make these activities part of their individual brand.

This demographic desires and appreciates an economical, yet elegant, contemporary home. Peytons have a steady, healthy income ranging between $75,000 and $200,000.

The High-Rise
The High-Rise is the final of the four projects in the community and, with 16 stories, towers over the rest of the development. It was built with a steel-and-concrete superstructure, using modular kitchens and bathrooms that were delivered to the site and set in place as complete, finished components.

This building also has sustainable features and was finished with photovoltaic materials, including a curtain wall, to generate electricity. The High-Rise asks premium rents and will house a very diverse demographic of residents.

In trying to pin down the average High-Rise tenant, JPI came up with “Clinton Bordeaux III and Presley Merlot.” This couple is working on their second philanthropic start-up company after recently selling their first venture.

They’re not married and enjoy spending their time with a large social network of friends and business contacts. Through business, and in life, they’re successful people with great drive. An address that commands respect and admiration is a must.

Clinton and Presley drive state-of-the-art electric sports sedans with custom license plates that reflect their responsible lifestyles. They travel and vacation while volunteering their time overseas in less-fortunate communities building schools and water wells.

The High-Rise is their housing choice because they want a premium location, a good view, elegant finishes, and lifestyle conveniences all wrapped in a sustainable envelope. Rent isn’t an issue because their income level typically exceeds $200,000.

Chuck Berberich, vice president of design management, central, for JPI, helped the Concept Community team define these four demographics. He explains that these outlines can be particularly helpful in targeting renters, marketing to them, and training property management personnel in accommodating them.

“Identifying the groups that would most likely rent from our properties helps our marketing team focus on where these prospects are online and where they’re most likely to come across our advertising,” Berberich says. “Not only that, but thinking of the overall community and who we need to approach, we can distribute the marketing spend [according to] the cost of acquisition for each type of tenant.”

Developers such as JPI are amping up the analytics of their marketing campaigns to justify every aspect of their spend.

Source: Multifamily Executive

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