It is not lost upon us multifamily developers, owners and operators that fear, as it relates to a person’s living accommodations, is a very real concern in the age of COVID-19. In fact, we are already diligently working to further flesh out new building and design standards for urban communities, especially as it pertains to high-density vertical communities.
Innovations such as touchless access, package concierge, virtual walkthroughs and tours as well as voice control technology are less of an ideation and more of a standard as we look forward.
As renters continue to be concerned, it’s important that we over-communicate with them about actions being done to ensure their health and wellbeing. They want to know that communal spaces are being routinely sanitized, extra attention is paid when cleaning and preparing units for their occupancy, and clear social distancing protocols are in place and enforced regularly. In the wake of this pandemic, these are becoming a much higher priority than they may have been in the past for both residents and investors alike and will ensure these multi-family developments continue to thrive.
Prior to the pandemic, the Greater Phoenix area was one of the top three metro areas in the U.S. in terms of both population and employment growth. According to figures provided by real estate economists, Arizona accounted for 10 percent of all interstate and international moves in the U.S. Once the COVID-19 pandemic eases, migration is anticipated to return to regular levels. In fact, Arizona could see many more people and businesses moving from dense coastal cities and states like New York and California to warmer and more hospitable markets such as Arizona, and when they do, the multifamily urban living communities will be ready for them.
Michael D’Andrea is vice president of development at the Related Group, which has built and managed more than 90,000 condominium and apartment residences across the country and around the world and is currently breaking ground on Manor Scottsdale, a multi-family development with 286 residential apartment homes on 6.5 acres located at the southwest corner of Joan De Arc Ave and Scottsdale Road that will be available in late 2021.
Photo courtesy of Related Group