Renting is becoming more attractive, especially for families, as homeownership becomes less of a reality in an increasingly expensive market. In our previous blog, ‘Maximizing Your Build-to-Rent Site,’ we shared strategies for integrating multiple product types – single-family, townhomes, and garden apartments – into a single site. We see this as a popular option for our developer clients in many of the communities we are designing to achieve desired densities. To meet the needs of both residents and developers, we have started incorporating multiple amenity campuses in these communities, which provide many advantages.
Two Sites in One
We see having two amenity campuses on mixed-product sites as a key advantage for clients who might want to sell their properties in the future. By strategically planning the site to separate the build-to-rent homes and the apartments, a property line can be added so that the community can be sold as two separate properties. By locating the amenities to serve each product type, residents in both communities will still have their own amenities to use after a sale.
Cater to Different Residents
The two-amenity campus approach can also cater to different residential needs. More families may live in the build-to-rent portion of a community, so family-friendly amenities such as a playground or a splash pad could be included. A clubhouse with multiple flex spaces, a game room, and a fitness center could be programmed on the apartment side of the community. The apartment buildings could also have co-working spaces to cater to residents who work from home.
Incentives Move-ups
Having two amenity campuses can also be used to keep residents long-term and to incentivize them to move-up. One approach we’ve seen in the communities we’ve designed is exclusivity in terms of who can use the amenities. For example, build-to-rent residents have full access to both amenity campuses, while apartment residents only have access to the apartment amenity campus. This further incentivizes renters to make the switch from an apartment to a larger, single-family rental home. This gives moved-up residents the luxury of staying in the same place and using the same amenities they are familiar with, while gaining access to amenities they didn’t have before.
The two-amenity campus approach requires an extra cost, but it could be worth considering if your site has multiple product types. This approach allows a community to be sold as two separate properties without impacting residents’ access to amenities, creates a competitive advantage by catering to various lifestyle needs and keeps residents in communities longer. If you’re curious about how we can integrate two amenity campuses on your site, give us a call at 303-832-4474.
