CREJ

Page 22 — Multifamily Properties Quarterly — February 2022 www.crej.com Design Trends A s an owner/developer of multifamily properties, find- ing ways to differentiate your project is obviously a key to standing apart from the competition. Nothing could be worse than getting lumped in with everyone else – in the minds of your potential tenants – simply because you’re failing to provide them with something that’s memorable and makes them think “Wow! Those residences really stand out from the crowd.” When you want to design for a competitive advantage in the crowded multifamily marketplace, the formula to success is not an easy one. But, if you’re able to dig a little deeper and research the options that are available in regard to smart, creative and cost-effective design solutions, you will have the ability to deliver the “wow!” factor to your prospective tenants. n Don’t depend on floor plans. Too many developers rely far too heav- ily on offering a variety of floor plans to tenants as a way to give them options and choices when they make the decision to rent a unit. While this is important to do, it doesn’t provide tenants with a truly unique vision for a living environment that will be memo- rable to them when they’re making their final decision. In order to take things a step further, present people with schematic design options, with a bevy of product and color choices they can get excited about. This will require a keen design eye and accessible resources that will help to present an appealing palette, but by taking this step, you’ll be putting yourself ahead of the competition. n Find the best resources. Procur- ing the products and materials you’ll need to pro- vide more options and choices isn’t easy. That’s why so many develop- ers fall back on tried-and-true design and color schemes that they – and their com- petitors – have found success with over the years. Unfortunately, in the minds of consumers, these tried- and-true ways are bland and boring, causing them to turn their atten- tion elsewhere. If you want to turn more prospects into actual renters, work with a design team that has relationships with a vast number of suppliers and can make volume purchases that provide not only a multitude of choices but also inher- ent cost savings as a result of buy- ing in larger quantities. n Work with a team that can handle the logistics. Whether it involves warehouse space for storage, the bandwidth to manage many moving parts and projects, or the multitude of challenges involved with supply chain issues, it’s imperative to have a team in place that can handle the logistics of providing professional design services for a multifam- ily property. The right team will be able to cover most, if not all, of your needs while also providing creative solutions that will help you to resolve additional problems. For example, the ability to identify commercial and hospitality prod- ucts that can easily be used in resi- dential spaces (i.e., flooring, coun- tertops, wall coverings and lighting) will provide cost savings and also help to overcome supply chain issues. A team that can provide you with warehouse space will enable you to purchase products and mate- rials in bulk, for use in future phas- es or developments, at significant cost savings. A good design team/ design center also will have a differ- entiated pricing model where cost savings will also be passed along to you. Just because the multifamily mar- ketplace has low supply and high demand doesn’t mean that the competition for renters isn’t fierce. Finding ways to differentiate your properties today, while establish- ing a formula for success that will work for years to come, will help your hard work to stand out from the crowd, make the job of renting easier and truly add up to substan- tial profits. s judyg@dsinteriorsolutions.com Finding the right formula for the ‘Wow!’ factor Judy Goldman CEO, Front Range Design Center Front Range Design Center If you want to turn more prospects into actual renters, work with a design team that has relationships with a vast number of suppliers and can make volume purchases that provide not only a multitude of choices but also inherent cost savings as a result of buying in larger quantities.