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Resident Health: Reshape well-being amenities
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With external stressors in the world driving the need for home environments to be more of a sanctuary, resident wellness is the hottest trend in apartment living. Savvy developers and property managers are building a healthy wellness amenity balance addressing physical, mental and social wellbeing priorities that premium residents are looking for. |
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Outdoor environments are also key for wellness-inclusive communities. Outdoor green spaces are a wellness signature, which can be used for fitness and recreation, community gardening, personal reflection space, etc. In-demand, contemporary residents are increasingly health-conscious and actively seek living spaces that prioritize their physical and mental well-being. They’re looking for more than just a place to live. This means purposeful wellness-designed amenities like fitness centers, green spaces, relaxation rooms and wellness programs are high on their list. Offering these features makes your multifamily community more appealing and meets a growing demand for amenities among prospective tenants. Residents with access to features like these amenities tend to be happier with their living situation, leading to lease renewals and lower turnover rates. While programming experiences around wellness might seem obvious, it can be tricky to address multiple needs that keep the community connected. Integrating the environment and physical amenities that are wellness-focused with programming that can focus on stress-reduction, social interaction, education, relaxation or other priorities, there’s an inexhaustible list of options. Whether it’s a quiet meditation corner or a well-equipped fitness center, walking through a sensory garden or hanging out on the rooftop for star gazing, wellness-designed spaces provide essential outlets for relaxation and activity, contributing to a more content and cohesive resident community. Filling the environment with experiences that reinforce the focus on wellness is vital, as these initiatives promote well-being and can strengthen community bonds. A community-focused approach to wellness is also a beneficial development strategy. As property owners, adding and supporting wellness amenities can significantly improve your residents’ lives and increase your property’s value and return on investment (ROI). Wellness amenities are a significant factor in resident attraction, retention and satisfaction – integrating spaces and experiences to benefit all involved. Properties that boast advanced amenities, particularly those focusing on health and wellness options, command higher rents and stand out in a competitive market. Prospective tenants are willing to pay a premium for these added benefits, reportedly 10% or higher, resulting in a higher return on investment for property owners. Additionally, such properties tend to have lower vacancy rates, as residents are more likely to stay longer in environments that support their wellness needs. Underlying the property valuation and business benefits, and significantly contributing to those benefits, are the community wellbeing reasons for creating wellness amenities and programs. |
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View Colorado Real Estate Journal Article |
