Condo owners have four distinct trends that developers are watching as they build new condominium projects. That's according to MultiHousingNews.com, the online version of the monthly magazine for multi-family housing professionals.
The number one trend is the work/live lifestyle, where more people are living and working at home (up 23.5 percent as reported by the U.S. Census Bureau).
The second trend important to condo dwellers is the sense of community. "Nearby retail amenities are crucial, as are nearby destinations for entertainment needs and all the essential services of city living," the report states.
Thirdly, the dwelling should offer something unique. Though this may seem illusive in a cookie-cutter environment of a condo development, it's still a trend architects are considering when designing, says MultiHousingNews.com.
Finally, the sense of social responsibility "is now becoming a purchase-driven priority by the growing demand for green and sustainable living."
Known as "sustainable design," this style of design "seeks to reduce negative impacts on the environment, and the health and comfort of building occupants, thereby improving building performance," according to the U.S. General Services Administration. The group's site states the idea is to "reduce consumption of non-renewable resources, minimize waste, and create healthy, productive environments."
"Sustainable design is quickly becoming a hot topic for the development community," says Los Angeles-based RSA Design Principal Mitchell Sawasy. "Especially in today's housing downturn, developers are seeing the financial benefits with sustainable projects, giving their projects the competitive advantage over their non-sustainable competition."