How to combine business with pleasure? That’s a question real estate developers are now having to answer. The proximity real estate market has become a growing trend near urban centers, such as can be seen in southern Florida. When people want to live closer to their employment or to recreational activities, this is a live option.
This new community-based concept has its corner on the market thanks to millennials and even to baby boomers since it provides made-to-measure solutions adapted to individual needs. Different requirements, you think? In some respects, but they all move toward a common goal: an enjoyable lifestyle, simplified in both time and cost!
Live, Work and Play.
Young professionals bought fewer properties in 2018 and thus started a shift toward the financial freedom offered by rental housing. The Y generation is now approaching its thirties and the needs its members display in terms of recreation and services are undeniable. For this reason, the market is adapting by proposing attractive solutions in living space. The marriage of personal and professional life, options such as a community swimming pool, dry cleaner, pet grooming services, training facilities and spa, along with co-working type office space are now available at home.
New Micro-unit concepts, too, address this demand by offering ergonomic apartments, some of them furnished, surrounded by service providers in the heart of trendy neighborhoods. In this kind of mixed-use development, the number of parking spaces is lowered so as to optimize the cubic footage available. These concepts have also been used in Seattle and New York City to respond to the high demand for affordable housing units.
Location, location, location.
People 55 years old and older represents a growth market in the development of luxe-community projects. This demographic is planning for the golden days ahead and prefers an all-inclusive housing package to minimize commuting time and take advantage of an upscale lifestyle. The design of these real estate projects is based on one essential: location. Nearby can be found commercial centers, hotels, hospitals and other service providers, adding up to a total package for the needs of residents and their visitors. Transitioning to retirement can occur in a more natural fashion with office space right at hand and a choice of restaurants besides. No more going here and there wasting precious time in travel: an enviable compromise!
That little “extra.” Another way to measure distance.
The concept of proximity real estate meets the need to recapture all those minutes lost in coming and going between home and work. Time is no longer measured in miles but in minutes. One way to make urban zones more accessible is to develop rapid transit networks which join together communities with reference to points of interest. In the same way, in terms of time management, retail businesses and housing options can all play an important role in such complexes, adding a lifestyle feature to people’s travels.
Staying up to date on trends and knowing how to adapt to the needs of your target clientele as they develop: an open secret that guarantees success for your real estate project.