CREJ - Multifamily Properties Quarterly - July 2015
With so many multifamily projects in Colorado and the Denver metro area coming on line, it can be difficult to differentiate between properties. Unit size and shape may vary slightly, and finishes can help differentiate, but for the most part one-bedroom and two-bedroom spaces are similar. Instead of focusing on the actual units, many properties are standing out with community amenities that emotionally draw in residents. According to a 2013 Apartment Resident Preferences Survey from the National Multifamily Housing Council and Kingsley Associates, the most popular community amenity is a fitness center, with 84 percent of residents rating it very important. “There is a lot of competition in the multifamily industry, and since fitness is one of the most important amenities to perspective residents, many projects focus on this area,” said Bruce Schlagel, vice president of commercial sales for Advanced Exercise Equipment. “It is not necessarily just creating larger fitness centers or adding more equipment, but instead it is about matching the fitness amenity with the prospective resident demographic and the building finishes to help create an identity for the property.” Amenities are not only essential in helping attract new residents, but also are important in helping maintain a high percentage of lease renewals. The fitness center is a great way to connect people socially, create a stronger sense of community and provide a situation where residents are more likely to stay and be a part of the community. The first step to any successful fitness center is a well-thought-out plan designed by professionals. After the initial client consultation and planning sessions, creating two-dimensional or 3-D renderings and layouts is a great way to view the fitness facility and serves as a blueprint for success. “Each project is unique and requires a deep understanding of the property location, demographic, level of other amenity offerings and, of course, the size and budget for the allocated fitness space,” said Jody Huddleson, multifamily commercial fitness consultant with Advanced Exercise Equipment. “Make sure the clients can see a lifelike visual of the fitness center to ensure you are capturing the essence of their needs. Incorporate as many of the property finishes and color schemes into the renderings to provide the client a true conceptual feel of their perspective fitness center.” When creating a fitness center that will help give your property a competitive advantage, Huddleson identified several overlooked areas, which can help your property stand out. Ambience. Although the type and quality of equipment are critical components to creating a well-designed space, you also need to take into account the overall feel of the room. Keep open sight lines with larger equipment in the back of the room. Subtle features such as flooring, lighting and wall graphics also can improve the look of the room, making it a place that residents will want to visit repeatedly. New trends. Stay up to date with the latest, cutting-edge fitness trends and understand what residents in your demographic want. Filling a room with equipment and calling it a “state-of-the-art fitness center” is a strategy from the 1980s, said Huddleson. Many new fitness projects include an element of functional and group training to meet the demand for how millennials are training. “Some of the best rooms I helped design came as the result of extensive meetings with the client,” said Huddleson. “It is a true discovery process to understand their goals and provide concepts to match those goals.” Dare to be different. Adding a unique piece of equipment to a fitness center may help differentiate your property from the competition. “One of our clients added virtual kick-boxing machines to their fitness centers, and it is one item that people always comment on during property tours,” said Huddleson. “Inserting an exciting element to a fitness room can generate a buzz around the property.” Programming. Having an eye-catching space with great flooring, lighting and new equipment is important, but the key ingredient is maintaining utilization. Facilities have many options for programming, such as bringing in local instructors and personal trainers, or purchasing on-demand group exercise platforms that allow video programming of popular classes like yoga, spin cycling and Zumba. With the complexity of today’s fitness centers, multifamily projects should engage with fitness professionals early in the process. There are many considerations that weren’t relevant 10 years ago, which can impact the final outcome of a project. Fitness and exercise consultants now have a more prominent role – instead of just selling equipment, they are experts in every phase of the fitness center, from information technology, and cable and television compatibility, to finishes, fixtures, flooring and programming. “I am fortunate enough to have done this for almost 30 years, and my experience has allowed me to help clients avoid mistakes and create a fitness center they can be proud of,” said Huddleson.