Family Friendly apartments?
Is it time we started to make apartment buildings more family friendly, or should they just remain the lifestyle of young professionals and empty nesters?
Apartment living is certainly becoming more popular and with a huge increase in the number of apartments being built, we will see a more diverse group of owners than we have seen in previous developments. Traditionally, apartments have been purchased by investors, wanting a low maintenance investment, young professionals wanting a city lifestyle and empty nesters wanting a secure property and more leisure time.
With the values of Auckland property increasing significantly over the past few years, young families now have to make a choice. Move out of the central city area, to enable them to purchase a traditional home and endure the lengthy commute to work, or consider living in an apartment with children. In major cities, all over the world, children live in apartments, so why not here?
Apartment developers will need to consider this market when planning their latest development. Obviously location will be important to family purchasers, with close proximity to parks and amenities being high on their desirability list. On site facilities while often considered a drain on body corporate finances, will become more desirable again. Indoor or outdoor swimming pools, and recreation areas and playgrounds will entice purchasers with families.
Auckland is very fortunate to have some fabulous inner city parks and playgrounds and the success of developments like Beaumont Quarter is largely due it’s proximity to Victoria Park. Here a mix of young professionals, empty nesters and young families live very successfully only metres from the inner city. These young families have the benefits of an easy commute or walk to work, which allows more leisure time together. They have access to several acres of park, the waterfront, restaurant’s, café’s and shopping. They are also close to schools and pre-schools and there are plenty of city day care facilities available.
Now is the time for new apartment developments to respond to the desires of families, not everyone wants or needs their own quarter acre dream, and I see this target market being an important one when planning new apartments for the future.