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Equilibrium

by Circuit

Wellness Amenities Level Up With High Demand Across Multifamily Markets

08.04.2022

by Catherine Rotman

Wellness amenities as an essential part of the resident experience are leveling up across the multifamily markets, with forward-thinking developers and operators quickly adapting to include them in their strategic plans.

While it was once a luxury to have an onsite fitness center or gym at an apartment building, the landscape has shifted in recent years due a variety of factors, including:

  • Aging population 
  • Pandemic-induced stress 
  • Uptick in remote work  
  • Loneliness  
  • Sustainable living alternatives 

Global Wellness Institute and Multihousing News 

“Residential properties that incorporate wellness elements such as fitness amenities, bicycle infrastructure and social spaces experience expedited leasing and sales, higher pricing premiums, below-market turnover and longer waiting lists,” Joanna Frank, President and CEO of Center for Active Design

Joanna Frank also notes that residents themselves are more likely to recommend properties who prioritize health and wellness.  

 Physical challenges such as diabetes and heart disease, mental health struggles such as depression and anxiety, and social health, such as trust, community interaction and interconnectivity of policy, are all impacted by the buildings we spend our lives in

Environment plays a huge role in our space, and incorporating natural elements as much as possible throughout properties helps mitigate the implications of air pollution. This extends carbon footprint reducing initiatives like Seattle-based SolTerra which envelopes purified air and water systems, carbon-capturing mass timber into their blueprints. CNY Group in NYC includes Yoga, Meditation, Barre and Massage spaces as a part of their construction and development services and many developers are shifting focus to buildings that provide a sustainable place to live, work and socialize.  Communities that SolTerra work with currently, are raising the multifamily bar with amenities such as salt, steam, and dry saunas, hot yoga spaces, hydro-thermal circuits and organic and vegan food options.  

While many of these options might be unfathomable to communities who are just starting to level up their wellness amenities with a fitness center and a pool, wellness by design is now trending from not only luxury developments but also market rate building, to senior living and co-ops. People are beginning to recognize that where they spend the majority of their waking hours constitutes a holistic health experience for their home environment. The WELL Building standards, formerly known for commercial office buildings are now trialing test pilot programs in other environments including multifamily communities, which when proven successful will drive these standards to become the norm. 

Multifamily Developers including Lissette Calderon, CEO of Neology Life Development Group; David Hovey Jr., AIA, president of Optima, Inc.; and Stuart Zook, principal and chief Investment officer at Monument Capital Management, an A-Rod Corp company discussed ‘holistic wellness amenities that support both physical and mental well-being’ as the most in-demand indoor amenity for multifamily communities in 2022. In some of their indoor communities, pickle ball, dog parks, children’s areas and indoor basketball courts have helped to enhance properties in Scottsdale Arizona and Chicago, while state-of-the-art fitness centers, virtual fitness programming, and spa-like amenities have fared well in urban downtown Miami properties. They look to incorporate meditation gardens and yoga rooms to boost their wellness amenities up a notch within the next year.

Explore how Circuit can help you provide a modern, elevated resident experiences with health and fitness amenities and events in the multifamily arena. Reach out to our team to get started today!

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