Procopio Companies’ Sedna apartment development on the Beverly waterfront incorporates a smart video intercom system, keyless building entry and ability to summon elevators by phone. Photo courtesy of Brilliant

According to the 2019 Zillow Consumer Housing Trends Report, 43 percent of Gen Z buyers and 35 percent of Millennials rated smart home features as “very important,” and although Zillow’s 2019 report shows older generations are less concerned with smart technology, we anticipate the desire for technology will continue to grow as younger generations continue to enter the market to rent and buy. 

In fact, we’ve found that at The Procopio Cos.’ multifamily properties, the current pandemic has increased tenants’ desire for technology, particularly when it comes to touchless capabilities, or controlled access from smartphones and other personal devices. 

At one time, smart homes were perceived to require extensive wiring, many screens, complex controls and the valid fears of rapid obsolescence. Renters can now control the entire multifamily experience from the palm of their hand – from video entry systems and security smart locks to lighting and heat controls, to smart speaker systems – and have confidence that in the internet of things, the tech can keep up with the times. 

Benefits for Owners and Tenants 

Take our newest multifamily development, Sedna in Beverly, slated for completion in early 2021 with one building currently available for lease and move-in. Within our design process, we implemented a variety of technology platforms including Butterfly MX, a smart video intercom system that allows property management and residents to manage unit and property access. Renters at this property can allow the dog walker or a friend to enter the building, all through a smart device, with recurring temporary keys, one-time keys and, most importantly, a secure video audit trail. 

Amidst the pandemic, Butterfly MX’s capabilities have improved tenant experiences, as accessibility features like calling the elevator from your phone and keyless building entry have minimized contact via shared surfaces. Already, The Procopio Cos. has seen increased interest in the technology at our properties, and we anticipate accelerating its implementation throughout multifamily developments across the U.S. as renters and buyers seek ways to improve their personal safety through touchless tech.  

And while many who think about technology consider the renter’s or buyer’s direct user experience, the reality is that within multifamily development, there are many technological updates that the consumer never sees. 

Take for example, a multifamily property’s heating and hot water systems, which are required to heat all units and common areas. New heat pump technology allows developers to save energy, as heat pumps transfer heat without generating and losing it, while integrated hot water and heating systems reduce the square-footage needed for utilities, while also saving costs as one integrated system. This streamlined process is more environmentally friendly, as it requires less energy, and the smaller utility footprint also allows for extended square footage at the property for amenities and other spaces for resident use. 

Adapt to the WFH Transition 

Another way the pandemic has accelerated technology adoption at multifamily properties is with an increased shift in work from home opportunities. The ability for renters and buyers to access quality, gigabit WiFi, either within their units, or within the building’s common areas, will be crucial to the multifamily experience moving forward. 

Mike Procopio

Similarly, residents working from home may require additional technology capabilities, whether it be conference rooms or presentation technology for meetings held at a multifamily building instead of an office. The trend towards work from home will shift residents’ needs and may require multifamily developers to consider and implement technology amenities previously seen only in commercial office spaces. 

While technology had already seen increased implementation prior to the pandemic, 2020 has seen a further desirability for technology’s implementation in multifamily developments. Moving forward into 2021, we anticipate a continued acceleration of this trend, as residents seek both an improved experience within their units and while working from home, and improved safety through touchless technologies. 

Mike Procopio is vice president of development at The Procopio Cos.