Even before the pandemic, amenities and service previously associated with the hospitality industry had infiltrated the residential property sector. Now, as much of the world has grown accustomed to working remotely, commercial and office environments are being introduced into increasingly amenity-rich residential buildings. It’s increasingly clear that the future of real estate lies in spaces where the consumer – whether they be a resident, tenant, shopper, or office worker – can meet multiple needs within one space. For the residential market, this means that co-ops and condos are no longer viewed as just a home, but also as a place where the unit owner or tenant lives a larger proportion of their life. Can they exercise, socialize, even work in their building? Are there on-site services like dog walking, dry cleaning, housekeeping, and salons that help make busy lives easier?
Some of the most frequently requested services we receive at URBN Playground from large and small buildings alike are emblematic of this change, and suggest that boards, managers, and building owners are taking note of the changed live/work landscape and adapting - not just to meet the needs and expectations of current residents, but to stay competitive in a very dynamic housing market.
During COVID, some residential buildings have designed and installed new office stations within their amenity spaces; others have retrofitted existing lounges and community rooms to stand up to the demands of the newly remote workforce. In addition to physical alterations, concierge tech can aid in booking reservations for these spaces to prevent overcrowding and allow for social distancing. Apps can also allow residents to reserve conference rooms, desks, or any other services offered by their building.