Resident Retention Through Multifamily Architecture and Design
The multifamily market’s resilience depends on many economic outcomes and strategic business decisions. Yet the most important factor to ensure the success of a multifamily property is resident retention, and some investor groups and property managers have difficulty increasing these numbers.
As return rates on multifamily investments experience more downward pressure due to consistently high interest rates and mixed economic news, not every multifamily property succeeds.
However, smart development, beginning with a design concept from a multifamily design firm, can increase the value of this asset class by fostering resident retention. In particular, unique multifamily amenities are a proven difference-maker. Developers who select their architecture partners wisely remain resilient and prosper in times when a saturated market typically slows rent growth.
NSPJ Architects’ multifamily design expertise is a master class in resident retention through design. Our work has given rise to many successful properties because of their appealing footprints, luxurious offerings and intuitive integration with the larger community.
Our Multifamily Architecture Firm Understands What Present and Future Residents Require
To deliver designs that foster retention, demographic and psychographic research is an early part of the process. In the case of multifamily, there are several demographic tiers that show up consistently in the research regarding housing demand:
- Millennials
- Retirees
- Those living in regions without affordable housing options
- Remote professionals
- Immigrants to the U.S.
Although each of these demographics may overlap and don’t represent every segment of multifamily residents, identifying viable markets serves as a guidepost for creating design concepts that meet these groups’ specific needs and connect with their aspirations.
Much has been said about millennials who, priced out of the housing market, have found a sense of place in multifamily communities that provide entertainment and recreation experiences. They value their coworking space, a connection to their urban corridor and a lifestyle that is more sustainable than the average suburban home’s footprint. Amenities deserve a great deal of credit for delivering a satisfying environment for this demographic.
NSPJ’s approach to multifamily architecture is exceptionally attentive to the role that amenities play in developing attractive properties that meet residents’ needs. We also design amenities that have broad appeal that can both cater to a single market segment and attract a wide range of residents. In turn, this creates more stable, vibrant communities and economies.
To take this approach a step further, our Kansas City multifamily architecture firm anticipates how residents’ socioeconomic behavior may change over time. Our flexible design concepts make room for residents’ evolving needs, so they are more likely to remain as long-term tenants.
Highlights from NSPJ’s Highly Responsive Multifamily Architecture Portfolio
The following projects represent our multifamily design firm’s unmatched capability to create multifamily amenity concepts for long-term retention.
- Chadwick Apartments: NSPJ’s design for The Chadwick offers a new way to imagine multifamily’s relationship to the larger community. Although this property’s amenities meet and exceed residents’ desire for thoughtful and comprehensive recreation and wellness with a resort-like pool, fitness center, dog park and more, The Chadwick has also positioned itself as a nexus for public green space and retail. The integration of public and private space creates a neighborhood feel and provides a walkable social and economic hub in the heart of the growing city of Shawnee.
- Cornerstone Apartments: This multifamily project is an expansive, Tucson-inspired campus surrounded by vast green spaces and a neighboring park. Cornerstone’s footprint masterfully insulates residents from surrounding commercial development to ensure their home provides a distinct and separate haven. A lake with fountains, elegantly designed pool, a well-appointed deck and outdoor hosting amenities provide ample opportunities to enjoy the spaces in all seasons and at all phases of life.
- Villas at 44 Washington: This property shares amenities with another NSPJ-designed property, 44 Washington, including a resort-style swimming pool, ample deck space, fire pits, water features and a state-of-the-art fitness center. NSPJ designed a pedestrian corridor that connects the two sites and merges them into one robust, central community space that meets residents’ needs for recreation and socializing in the midst of Kansas City’s thriving urban core.
- The Donovan Apartments: This multifamily property’s contemporary architecture aligns with Lee’s Summit’s economic vibrancy and professional character. The Donovan’s amenities, like a large health club on campus, attract professionals who desire upscale fitness, wellness and recreation options. In particular, the waterfalls, lush landscape architecture and wet sun deck allow residents to retreat from their busy lives and immerse themselves in a private haven for relaxation.
- The Royale at CityPlace: The Royale at CityPlace’s centralized outdoor amenities engage residents in multiple phases of life by including opportunities for relaxation, family time, social gatherings, sports and more. This property connects to Johnson County’s network of trails, ensuring that residents feel a part of the larger community, whether they’re jogging, hiking with friends or taking their children out for an adventure.
Look to NSPJ Architects for Appealing, Versatile Multifamily Architecture
Developers who desire strong resident retention rates should consider their multifamily design firm’s expertise alongside site placement and other initial revenue-generating strategies.
Extraordinary design concepts deliver more than aesthetically pleasing and functional environments. Thoughtfully considered amenities foster a sense of place, belonging and community for residents over an extended period of time, which, in turn, impacts retention.
Begin a conversation with NSPJ Architects to secure our leading Kansas City multifamily architecture firm for your new property development. Contact NSPJ online or call our office at (913) 831-1415.
