Mar 21 2013
It’s apparent that the majority of the Gen Y generation--those between 20 and 34 years old--have something in common: they don’t demand a large living space in order to live comfortably. In fact, this demographic is actually reshaping the multifamily development market.
One such developer, AMF Development, LLC (AMFD), has unveiled one of the first micro one-bedroom designs specifically targeted for the Gen Y crowd in Southern California that not only offers all the amenities that this demographic wants, but focuses on the socio-economic factors as well.
“The units, whether a 'micro one-bedroom' or a two-story loft, contain all the comforts and amenities of a full-sized apartment home, which Gen Y demands,” said Alan Dibartolomeo, chief development officer of AMFD. “In order to tackle the population’s changing demographics and expectations, we’ve developed affordable living units that effectively capitalize on all of the usable space in a minimal yet sleek design.”
The micro one-bedroom units are part of the 208-unit Elevé Lofts & Skydeck that is soon to open in Glendale, Calif., which is the first in a series of Young Urban Community projects that the company plans to develop in the Southern California area.
According to statistics, Gen Y makes up 30 percent of the U.S. population and consists of the majority of the workforce and an important force in the marketplace.
The micro one-bedroom units, which are approximately 400-square-feet, offer a full kitchen complete with granite countertops, high gloss cabinetry and stainless steel appliances, in-unit laundries, full bath, living room, bedroom and closet. The LEED Silver-designed project is located within an amenity-rich, urban environment suitable for a variety of lifestyles and economic levels.
Another unique design component allows the reconfiguration of Elevé’s micro-dwellings from micro units to larger one-bedrooms or even two-bedrooms in order to accommodate expanding households. While smaller square footage may suffice for a single resident’s needs now, AMFD has designed its building in such a way that units can be converted into larger dwellings should the market demand change.
Elevé Lofts & Skydeck Glendale is slated to open in Spring of 2013 with rents ranging from $1,500 to $2,800 per month.