Developers are building many apartments in Los Angeles for Gen Ys. Generally, these apartments are multi-story high density smaller units in walkable urban areas. The developers load the building with hip amenities –gyms, do it yourself bike repair, roof pools with fire pits, water features and cabanas. See article for example.
However, not every Gen Y is alike. Some Gen Ys will prefer to live in more intimate low rise urban and walkable environments (or in Los Angeles — everything in a very short commute). Some Gen Ys will desire the character of many of Los Angeles’ older apartments but still desire contemporary interior features and conveniences. Despite how walkable a neighborhood is–in Los Angeles–parking is still very very important. Unlike the Mc W Apartments being built, some Gen Ys will cherish a less dense environment and the luxury these units afford for private outdoor space. With more single households–also satisfying Fido (thank you for the mini yard) will fit into the housing decision. We are renovating these older low rise properties into creative mutli-family to appeal to the young creatives,
Workers in the creative industries are now working on open tables in close proximity to their fellow workers. Companies have eliminated private offices and partitions. Entering some offices today is like going into a library: . people work away on their computer, alone and silent. Other open office environments feel like the “Daily News” with phones ringing and the din of hustle and bustle. In these environments, workers resort to earphones to create an environment in which they can focus. In this case, the collaborative office can produce a non-collaborative environment with ear buds replacing walls. It is important to provide balance. Offices need to provide private areas for phone calls, meetings, and employees who focus better with privacy. To read more about the importance of focus and balance in the workplace, see Gensler’s article below.
Researchers have found that the first picture is the fist thing customers look at and for extended period of tme in an internet add and ,after that their eyes move all over the page. As a result, at one dynamite picture is requird. At pictures, people read the description. See the article below for more information.
20 Seconds for Love at First Sight | Spread Sheet – WSJ.com.
Low vacancies and rent increases have encouraged apartment developers in Los Angels to break ground on new apartment buildings. Unfortunately, the long City approval process and financing concerns delay the start date of these projects. Therefore, the surge is felt more by architects and City planners than anyone else. Eventually, we will see cranes, steel, and lumber coming from the ground. Jim Silton, n veteran of many cycles in his Spring 2013 newsletter writes:
“Let me illustrate what occurred in the 80s. One of the first new apartments built in Westwood was on the northwest corner of Ohio and Veteran; it attained rents higher than any other building at that time, which opened the floodgates for new construction. This lead to overbuilding. By the end of the decade, maNy of these units went un-leased, pressuring landlords to give rent concessions.So is history repeating itself? Of course it is….that’s what real estate is all about–CYCLES.”