Curating a "Live-Work-Play" Experience Through Flexible Design
By Felicia Hyde Principal & Lifestyle Studio Director, H. Hendy Associates | January 26, 2020
The "live-work-play" lifestyle is a growing priority for modern consumers. Renters and travelers alike are in search of accommodation that offers a personalized and all-encompassing experience. In fact, 83% of consumers today are willing to trade in unit-square space for custom amenities and communal spaces that offer a built-in community. As a result, architects and developers are responding with designs inspired by the local history and culture. These properties are infused with multifunctional spaces to provide renters with access to their everyday needs – all under one roof.
While the growing demand for flexible design is transforming many industries, it's a concept that's revolutionized multifamily communities nationwide. With the goal to create a well-rounded experience and sense of community for renters, developers have evolved their approach to incorporate mixed-use design strategies, elements and spaces.
Here's a look at the key drivers behind this trend, opportune spaces for multifunctional design and best practices for creating multipurpose environments that result in innovative designs and deliver optimal return on investment.
Drivers of Multifunctional Design
According to the National Association of Realtors, multifamily units are shrinking as developers face a growing demand for studios and one-bedroom apartments. The average apartment size in the U.S has decreased by 10% – and in dense cities like New York and San Francisco – the minimum square footage per unit is as small as 220 square feet. Consequently, developers are rededicating square footage to communal areas and designing easily transformable spaces to ensure residents have access to more customized experiences and amenity spaces.