How to Get Started How to Get Started in Multifamily: … · 2009-02-25 · How to Get Started in...
Transcript of How to Get Started How to Get Started in Multifamily: … · 2009-02-25 · How to Get Started in...
2009 International Builders ShowHow to Get Started in Multifamily:
Designing the Product
Presented By:Jeremy Greene, AIA – BartonPartners
Doug Buster – BSB Design
All plans and drawings in this presentation are copyright protected by the presenters or their clients. Reproduction in whole or part without expressed written Consent is prohibited.
January 21, 20091
How to Get Started in Multifamily:Designing the Productg g
January 21, 20091:00 pm – 2:00 pmSouth 230
Jeremy A. Greene, AIAPrincipalBartonPartnersNorristown, Pennsylvaniawww.bartonpartners.com
How to Get Started in Multifamily:
Designing the
Doug BusterManaging PartnerBSB DesignPalatine, Illinoiswww.bsbdesign.com
the Product
•Rental vs. For Sale•Multiple product possibilities•Density
What’s different about multifamily?
•Parking•Demographics•Detailing•Landscape & Hardscape•Amenities
Renter ProfilesEstablished FamilyYoung
Families
Students
Workforce HousingSeniors
Young Couples
Single Parents
Pros & Cons of Multiple Product Typesyp
TownhomesPros• Relatively simple
to build• Endless variety
of configurations• Can be built
using the IRC or
10-20 du/ac
using the IRC or IBC codes
• For-sale alternative
• May attract more affluent renters
• No FHA, no accessible units
2009 International Builders ShowHow to Get Started in Multifamily:
Designing the Product
Presented By:Jeremy Greene, AIA – BartonPartners
Doug Buster – BSB Design
All plans and drawings in this presentation are copyright protected by the presenters or their clients. Reproduction in whole or part without expressed written Consent is prohibited.
January 21, 20092
TownhomesCons• Generally lower densities• Garages may limit plan
flexibility• Larger square footages force
higher rents• Mandates rich landscaping &
d t ili
10-20 du/ac
detailing
Garden Walk-Ups 12-25 du/ac
Pros• Product of choice by most for market
rate rental ranges• Medium density• Fairly economical to build (low hard
cost per sq.ft.)
Garden Walk-UpsPros• Wide variety of
floor plan offerings
• Flexibility & interchangeable floor plans
12-25 du/ac Garden Walk-UpsPro’s• High net to gross ratio• Economies of scale due to
repetition of plan elements• Units usually don’t compete
against one another if renters options are limitedC l t ll k t t
12-25 du/ac
• Can appeal to all market segments
Garden Walk-Ups 12-25 du/ac
Cons• Typically large buildings• May require upgraded elevation to get
approval• Homogeneity/Repetitiveness• Large parking lots exposing cars
Garden Walk-Ups 10-25 du/ac
Cons• Safety/ Security• Expensive clubhouse/leasing
center typically required • Maintenance of common spaces
2009 International Builders ShowHow to Get Started in Multifamily:
Designing the Product
Presented By:Jeremy Greene, AIA – BartonPartners
Doug Buster – BSB Design
All plans and drawings in this presentation are copyright protected by the presenters or their clients. Reproduction in whole or part without expressed written Consent is prohibited.
January 21, 20093
Flats 12-18 du/ac
Pros• 1st floor attracts senior/active adult renters• Slightly higher density than TH• Fit in small cluster groupings• More readily acceptable to neighbors than
large scale rentalCons• More expensive construction due to
sound attenuation
Direct Access 12-25 du/ac
Pros• Feels like owner/condo unit• Begins enclosing car on site• Mix TH/Flats together• Limited common space
Direct AccessPros• Higher rents• Security of garage to unit relationship• Easily converted to for-sale units
17-25 du/ac Direct Access 17-25 du/ac
Cons• More expensive to build• Fire separation & sound attenuation
between garage/unit critical• Heating & cooling between unit &
garage
Direct Access 17-25 du/ac
Cons• Garages add expense• Can be less dense if
garage space doesn’t satisfy parking requirements
Midrise – Standard 25-50+ du/ac
Pros• Higher densities• Large % of cars on site can be hidden• Up to 4-stories over garage can be built wood
frame construction• Attracts largest # of renter profiles
2009 International Builders ShowHow to Get Started in Multifamily:
Designing the Product
Presented By:Jeremy Greene, AIA – BartonPartners
Doug Buster – BSB Design
All plans and drawings in this presentation are copyright protected by the presenters or their clients. Reproduction in whole or part without expressed written Consent is prohibited.
January 21, 20094
Midrise – Standard Cons• Net to gross ratios lower (< 85%)• Cost of common elements
including; corridors, elevators, etc.• Cost of garage construction
25-50+ du/ac Midrise – Structured Parking/WrapPros• Typical wood
frame on slab w/ garage isolated from units
• Least expensive garage
t ti
35-60 du/ac
construction• Courtyard loop
creates wonderful outdoor space
Cons• Long walking
distance from garage to many units
Midrise – Podium Pros• Outdoor podium is a
major outdoor opportunity
• Many units have access to plaza
• Garage yields more it
50-85+ du/ac
cars per unit
Midrise – PodiumCons• Most expensive garage to
build• Waterproofing of plaza level• Transfer of loads through the
structure• Multiple elevators, stairs, etc.
50-85+ du/ac
Midrise - Mixed Use
Pros• Location, location,
location• Usually yields higher
l t ft
30-50+ du/ac
lease rates per sq.ft.
Cons• Expensive
construction• Often times different
type of builders needed for project
Midrise - Mixed UsePros• Considered desirable by
planning departments• Encouraged by many zoning
ordinances (ie: TODs)Cons• Design issues due to
25-50+ du/ac
• Design issues due to unknown retail uses
• Not easy to integrate lease up on retail & units simultaneously
2009 International Builders ShowHow to Get Started in Multifamily:
Designing the Product
Presented By:Jeremy Greene, AIA – BartonPartners
Doug Buster – BSB Design
All plans and drawings in this presentation are copyright protected by the presenters or their clients. Reproduction in whole or part without expressed written Consent is prohibited.
January 21, 20095
Midrise – Mixed Use/Hybrid
Features• 1st level direct-entry residential• 1st level retail & business uses• Parking below grade• Parking above grade• Elevated private courtyard/plaza• 195 units on 1.9 ac = 100 du/ac
Adaptive ReusePros• Revitalization of underutilized or
vacant buildings• Municipal support• Design opportunities • Historic tax credits• Historic preservationp• Positive impact on property values
Adaptive Reuse
Cons• Land costs• Site contamination = remediation costs• Hazardous material removal• Infrastructure improvement costs• Historic tax credit & preservation costs• Integration of parking
Adaptive Reuse - Interiors
SeniorsPros• Increasing market
demand in next 10-20 years
• Desirable for many city infill sites – stay close to exist friends/neighborsR d d ki
100-300 Unit Programs
• Reduced parking requirements
Cons• Usually requires 3rd
party professional management groups
• Most builders would not get into nursing facilities & long term health care
SeniorsPros• Tax credit financing availability• Affordability• Repetition leads to economies
of scale• Low vacancy rates
100-300 Unit Programs
2009 International Builders ShowHow to Get Started in Multifamily:
Designing the Product
Presented By:Jeremy Greene, AIA – BartonPartners
Doug Buster – BSB Design
All plans and drawings in this presentation are copyright protected by the presenters or their clients. Reproduction in whole or part without expressed written Consent is prohibited.
January 21, 20096
Seniors 100-300 Unit Programs
Pros• Independent living • Security and comfort• Sense of community• On-site services
SeniorsCons• Tax credit financing requirements• Uncovered parking• Lack of storage• Private outdoor space can be limited• Connotation of “old folks home”
100-300 Unit Programs
Student HousingPros• University towns
turning over responsibility to outside developments
• Smaller unit, higher d itdensity
Cons• Most locate sites
close to universities• Turnover & wear &
tear• Fairly high parking
required – generally all surface parking
Workforce/Affordable Housing
Pro'sPro's• Increased demand, particularly in
tough economic timesCon's• May require federal funds & tax credit
incentives• Many communities not on board• Market rate parking required for sub-
rate lease opportunities
Workforce/Affordable HousingPros• Tax credit financing availability• Can enhance approvals process• May satisfy municipalities'
affordable housing requirements or incorporate dedicated housing
• Integrates very well with mixed • Integrates very well with mixed use and TOD projects
Workforce/Affordable HousingCons• Perception by
surrounding community
• Integration within larger planned developments
• Design constraints due to budgets
2009 International Builders ShowHow to Get Started in Multifamily:
Designing the Product
Presented By:Jeremy Greene, AIA – BartonPartners
Doug Buster – BSB Design
All plans and drawings in this presentation are copyright protected by the presenters or their clients. Reproduction in whole or part without expressed written Consent is prohibited.
January 21, 20097
•Unit Plans• InteriorsExterior detailing
All leased communities require thought regarding:
•Exterior detailing•Planning & Product Selection•Landscape/Hardscape•Amenities
Unit Plans – Multiple Plan Requirements
Unit Plans – Direct Access & Townhomes
Direct Access Unit
Loft Overlook into Great RmDirect Access Unit w/ Garage
Unit Plans – Interchangeable
Unit Plans – Townhome Typologies
B k t B k (I t i ) Through Units (Interior)Back-to-Back (Interior) Through Units (Interior)
Unit Plans – Townhome Typologies
Th h U it (E d) T Fl t (E d)Through Units (End) Towns over Flat (End)
2009 International Builders ShowHow to Get Started in Multifamily:
Designing the Product
Presented By:Jeremy Greene, AIA – BartonPartners
Doug Buster – BSB Design
All plans and drawings in this presentation are copyright protected by the presenters or their clients. Reproduction in whole or part without expressed written Consent is prohibited.
January 21, 20098
Unit Plans – Townhome Typologies
Back-to-Back Units
Interlocking Units
Interiors
Loft/Boutique
Luxury
Market Rate
InteriorsSeniorsTownhome
Affordable
Workforce Housing Active Adult
Exterior Detailing
• Vertical color makes Garden Walk-up feel like townhomes
• Brick at first floor
• Shake siding
Planning & Product SelectionKey Factors
• What is the market?• Who are the renters?
• Parking solutions• Phasing considerations
• Is this Mixed Use?• Is this a TOD?
• Increased green space/ pocket parks
• Service/trash location(s)
Planning & Product SelectionKey Factors
• What are the amenities?
• How does product distinguish itself in the market?
• Eye catching entry• Million $$ view to &
from the clubhouse
• Finding special units that border water or green spaces
2009 International Builders ShowHow to Get Started in Multifamily:
Designing the Product
Presented By:Jeremy Greene, AIA – BartonPartners
Doug Buster – BSB Design
All plans and drawings in this presentation are copyright protected by the presenters or their clients. Reproduction in whole or part without expressed written Consent is prohibited.
January 21, 20099
Landscape/Hardscape• Make a great 1st impression• Colorful landscaping• Gatehouse
Landscape/Hardscape – Entrance Feature
Landscape/Hardscape – Suburban
• Walkable
Landscape/Hardscape – Urban
• Sidewalk & what is next to it are key
Landscape/Hardscape – Urban Landscape/Hardscape – Seniors
• Campus layout• Courtyard living• Paths, benches,
shade structures
2009 International Builders ShowHow to Get Started in Multifamily:
Designing the Product
Presented By:Jeremy Greene, AIA – BartonPartners
Doug Buster – BSB Design
All plans and drawings in this presentation are copyright protected by the presenters or their clients. Reproduction in whole or part without expressed written Consent is prohibited.
January 21, 200910
Amenities – Clubhouse
• Clubhouse sets the tone
Amenities
• Cyber Café • Exercise Room• State of the art equipment• Laundry
Amenities
• Sun Room• Theater
Room• Demo
Kitchen
Amenities
• Basketball Court (½ court)
• Sign up sheet• Doubles as
gathering space by setting up tables
Amenities•Differences between MF for-sale & rental development
•Variety of product types used in rental industry & no set answer to product
Most are (or can) use protected wood
Developers must understand:
– Most are (or can) use protected wood frame construction
•Pros & Cons of each rental typology– Density, parking solutions, codes,
construction methods, etc.
2009 International Builders ShowHow to Get Started in Multifamily:
Designing the Product
Presented By:Jeremy Greene, AIA – BartonPartners
Doug Buster – BSB Design
All plans and drawings in this presentation are copyright protected by the presenters or their clients. Reproduction in whole or part without expressed written Consent is prohibited.
January 21, 200911
• Importance of designing to meet your market
– Demographics, consumer/renter profiles, etc.
• Importance of the appearance of the
Developers must understand:
Importance of the appearance of the product
– Exterior detailing, landscape/hardscape design, green spaces, views, site features
• Importance of the amenity package, project visibility, etc.
Questions?
Jeremy A. Greene, AIABartonPartners
Doug BusterBSB Design
How to Get Started in Multifamily:
Designing the
Thank You!
the Product
Download a Printable PDF of today’s presentation at:www.bartonpartners.com or www.bsbdesign.com