Deluxe penthouses used to be the cherry on top of any high-end residential development, but now, developers are increasingly giving up some, or all, of the space usually reserved for these sky mansions in favor of rooftop amenities for the use of all residents, as they have realized that these add-ons can actually increase their returns.
If you just arrived to our new blog series, “The Value Rooftop Amenities Bring to Architectural and Development Projects”, you might be interested in following it from the beginning!
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It’s all about rooftop amenities!
Rooftop amenities make all the difference in terms of the added value on a residential development. Today, home buyers expect value for money that goes beyond four walls, a floor and a ceiling. They expect convenience, ambience, comfort, and means of relaxation and entertainment. As such, swimming pools, gyms, jogging tracks, and green open spaces on a building’s rooftop are definitely on the wish-list of most mid-to-high income home buyers and tenants, particularly from the younger set.
These types of shared spaces always include a significant amount of technology with the latest in audio-video equipment, as well as strong Wi-Fi capabilities with access to computers and printers. Other critical aspects to incorporate within these spaces include gaming and social components because these areas often become the “social hub” during fall or winter months, or they become a business environment for those who may work from home.
An investment with longstanding ROI
Rooftop amenities can increase occupancy and drive increased revenues.
So, when figuring out what rooftop amenity or amenities to include in your development project, it’s important to consider the ROI. You don’t want to commit to an amenity with a short lifecycle. You’re looking for an investment with long-term results.
This can be challenging, especially when trends can come and go. Doing your due diligence through research will be vital to making sure your addition isn’t a waste of money. A landscape architecture firm that specializes in rooftop amenity design can be a great guide on which amenities are in demand, and will set your property apart from others!
Developers, however, must keep in mind that in order to become the preferred choice for potential homebuyers and tenants, they must go beyond what is expected, and provide more than what is needed by the market. By doing that, they can expect long-lasting return on their investment.
Help getting on top
Bringing visions to life and offering the latest and best rooftop amenities that will yield optimal return on your investment requires a strong team of professionals.
Loft 6/4 can help you create rooftop amenities that will put your development project head and shoulders above the competition.