There’s no denying that Boston’s real estate industry is booming. Roughly 14 million square feet of new space is being developed around the city, in addition to another 40 million square feet of permitted projects that have not yet broken ground. About 80 percent of the new development square footage consists of rental apartments and condominiums.

Many of these new residential developments are considered “luxury” buildings. With plentiful luxury residential options for Boston residents, how can developers and building owners distinguish a luxury building from others in the market? The answer may lie in combining the building’s tangible qualities with the execution and management of these amenities and features.

While many luxury apartment buildings now boast perks such as a front-desk concierge and fitness centers, true luxury for residents is feeling at home where they live, even in a rental apartment. Achieving this often requires not just providing amenities or community spaces, but also actively encouraging their use through programming, special services and thoughtfulness. Below are three examples of how to do this.

The amenity war has become a reality for the real estate industry, as luxury developers compete for the most cutting-edge niceties that will set them apart. One of the hottest emerging commodities is outdoor space, such as roof decks. But residents won’t embrace a rooftop space like their own backyard unless there is programming and a level of service that supports activity. To make a common rooftop feel like an extension of a resident’s own space, buildings can encourage residents to make use of the space by partnering with area vendors and holding lifestyle-enhancing activities to use the area in meaningful ways, like yoga classes or movie nights.

Thoughtfully designing the layout of rooftop spaces so some residents can mix and mingle with neighbors while others simultaneously enjoy more isolated areas for smaller gatherings of friends, is also important. If done well, these outdoor spaces become desirable places for residents to host their own special events and milestone moments, including weddings and other celebrations. Depending on the location of the building, many rooftop “backyards” have the added bonus of sweeping views of everything from the city skyline to the Charles River – at the roof deck of The Viridian, you can even watch the Red Sox and hear the concerts at Fenway Park.

The new luxury renter is staying for 24-36 months, sometimes longer. This resident wants to feel a connection with their home, their building and their community. They count on amenities that encourage a “live-work-play” lifestyle from the bottom of the building to the top, so it is important to create a sense of place among residents and neighbors – a “vertical neighborhood.”

Aurey Epstein Reny

Audrey Epstein Reny

This begins at the ground level with a thoughtfully curated retail mix and goes all the way to the roof, with carefully planned places in between where residents and friends can feel at home as they spend time in and around the building. A real community evolves when residents frequent the retail vendors, join the health and wellness classes in the fitness center, enjoy movie nights in the media room with their neighbors and hold conferences or work sessions in the business center.

Luxury is also in the details; carefully-planned interior design and curated original art can make a building’s public spaces feel welcoming, just like your home living room. At The Viridian in Fenway, residents are offered the opportunity to interact with neighbors and the broader community through the Fenway Community Center, which serves as both a neighborhood gathering place for Fenway residents as well as a provider of programming in arts, wellness, enrichment and civic engagement. It is these kinds of programmed amenities that allow residents to establish roots, feel at home and experience real luxury.

Services that minimize the stress of everyday living while assisting residents with settling into their new home and neighborhood are a new feature of luxury. Most new luxury buildings offer a concierge to greet you as you arrive or depart, sign for packages and register your visitors. A concept found at some luxury buildings, however, is the careful management of these services. A concierge who can offer resources for pet walking, dry cleaning or restaurant and bar hotspots helps a new resident settle into the building and helps them in establishing a sense of home.

A management team that tailors various lifestyle experiences to help residents explore their neighborhood also helps take a building to the next level. Newsletters with curated neighborhood events, exclusive discounts to local restaurants and premium perks through area vendors are all ways to help a new resident start to feel like they belong there.

Here’s the bottom line: the demand for luxury residents in the Boston area is booming, and it is harder than ever for developers and building owners to differentiate themselves. However, careful design decisions and a thoughtful approach to execution and management can make renters feel more at home and more likely to stay long-term – which is beneficial for everyone.

Audrey Epstein Reny is managing partner at The Abbey Group.

Bringing A Sense Of Home To Luxury Buildings

by Banker & Tradesman time to read: 3 min
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