Experts urge developers to build multi-family communities based on common interests

When it comes to new theories about how to plan great residential communities, it was once thought that people of similar ages and stages of life should all be in the same place.

Think suburban neighbourhoods with 30-something adults with kids.  Active living communities with the 60-plus crowd. 

But a wiser approach according to experts is to bring people together who share common interests and goals, no matter what their age.

David Allison and Eric Termuende have global experience in real estate and the pair undertook a massive research project with the assistance of a team from a university in New Zealand.  The team surveyed 26,000 people in Canada and the U.S., examining a variety of criteria involving living in a particular type of community.  The questions helped the team explore the various factors that bring people together, no matter what their background or age, gender or ethnicity or push them apart.

What they were looking to uncover was answers to the why real estate planners and developers are still basing decisions on the ages of potential buyers when it might be irrelevant.

Allison, in an interview with Postmedia, said that he’s heard of baby boomers riding their skateboard to the office, an unexpected sort of activity for someone in their late 50s into their 60s and millennials in their 20s, early 30s, at the head of Fortune 500 firms.

His advice, based on survey results, was for real estate leaders to start appealing to people who share similar interests and more specifically, creative interests.

In this New Zealand team’s survey, roughly 33% of respondents self-identified as being creative types.  By definition, these people would spend a minimum of five hours a week doing something creative. 

In multi-family developments, which are becoming more popular with buyers because of the affordability factor, dedicated amenity space in that building for people of shared interests would nurture that sense of belong and sense of community.

An example of how this might play out would be something as simple as riding an elevator in a high-rise condominium building where you have a six people in a variety of age groups that would likely not talk to each other, unless they were all creative types working on a variety of projects and they have previously connected in shared amenity spaces in the building.  Shared interests can be conversation starters.

It would help developers and architects decide on what amenities to put into a building.  Usually, when planning a building a developer will consider what type of buyer they want to attract – how old they are, how much income they have and will plan amenities accordingly.  A younger buyer may not want a gym or fitness centre in the building because they have a gym membership at a place down the street.  An older buyer make want a gym in his building because of the convenience.

Ideas for amenities for like-minded creative types could be:

• Pottery studio
• Sound proof room for band practice
• Crafts room
• Wood shop
• Theatre
• Wine cellar

Going back to the survey, a further 33% of participants checked off the “not materialistic” box, saying that there were more experiential types.   These types might have big toys that they actually use such as kayaks, rafts, downhill or cross country skis – maybe snowmobiles.  A building for these types might have appropriate storage areas and an owner’s lounge that’s set up for guest speakers who offer topical information on great experiences like traveling, mountain climbing, winter camping etc.

About 10% of survey respondents referred to their lifestyle as being “unsettled”.  This would be another way of describing someone who is more transient and might sell their home within two years of purchase.  An unsettled person might have fewer possessions and catering to these individuals might mean planning a building full of micro condos.