In the realm of multifamily or senior housing, creating a sense of community is vital to attracting and retaining tenants. One effective way to achieve this is common area renovations. A well-designed and inviting common area enhances the overall living experience, fosters social interaction, and adds value to the property. In this blog post, we will explore the benefits of renovating common areas and provide practical tips and ideas for creating impressive shared spaces that will leave a lasting impact on residents.
Understanding the Importance of Common Areas
Before you even begin designing your new common area, you first need to establish what role your common area plays at your property. The majority of the time, the role of common areas is to promote a sense of community. Fitness centers, game rooms, leasing office lobbies, dog parks, and business centers all offer residents a place to gather and provide opportunities for social interaction and neighborly connections. By investing in your common areas, you can enhance the property’s appeal and attract new tenants.
1) Assessing the Existing Space
The first step in renovating your common areas is to conduct a thorough evaluation of the current common areas at your property. During this evaluation, the goal is to identify the areas that require renovation or improvement. Depending on the property, there may be multiple areas that are ready for a renovation, so make a list and weigh the pros and cons and maybe even the ROI of renovating each space. During this exercise, consider functionality, aesthetics, and safety aspects.
2) Design Principles for Common Areas
The key to a successful common space renovation is creating a cohesive design concept that aligns with the property’s overall aesthetic. If you are planning on renovating the rest of your property shortly after completing common space renovations, then you may want to use your common spaces as a design theme moving forward. A well-designed space will incorporate versatile furniture and layouts to accommodate various activities and events, balancing functionality, comfort, and visual appeal. Consider the following items to really set your common space apart:
Lighting and Ambiance:
- Utilizing proper lighting techniques to enhance the atmosphere
- Incorporating natural light and strategically placed artificial lighting
- Exploring different lighting fixtures and their impact on the space
Furniture and Fixtures Selection:
- Choosing durable and easy-to-maintain furniture that suits the common area’s purpose
- Incorporating comfortable seating options for relaxation and socializing
- Opting for multifunctional furniture to maximize space efficiency
- Integrating smart technology features to enhance convenience and connectivity
- Providing high-speed internet access and charging stations
- Installing interactive displays or digital signage for announcements and community updates
Incorporating Green and Sustainable Elements:
- Introducing eco-friendly materials and energy-efficient systems
- Incorporating indoor plants and green walls to enhance aesthetics and air quality
- Promoting sustainable practices within the common areas
3) Adding Amenities
If your property is getting older, it may be time to consider changing dated amenities or adding new amenities. Before taking on a major amenity project, you will want to evaluate the residents’ needs and preferences. Exploring options such as fitness centers, game rooms, lounges, dog parks, or coworking spaces are a great place to start. Balancing the amenities to cater to a diverse range of interests and lifestyles will ensure the property has a strong community that appeals to more prospective tenants.
4) Communication During the Renovation Process
During the renovation of a common area, it is imperative to keep open communication with your residents. At Global Construction, we always do our best to minimize disturbances, but with common areas, there is only so much we can do; daily routines will be interrupted and temporary spaces for leasing, fitness, and other amenities may need to be set up while construction is underway. By keeping residents informed about the renovation timeline, progress, and potential disruptions, you can ease some of the frustrations that come with a large-scale renovation.
5) Showcasing the Transformed Common Areas
After completing a common area renovation, make sure to show it off! You spent a lot of time, effort, and capital to give your residents a new area to gather. Celebrate the completion of the renovation project by organizing community events or gatherings to introduce the new common areas. You’ll also want to get new professional photos of the renovated spaces to post online and in any marketing materials your leasing team may use.
Renovating common areas can significantly elevate the living experience for residents, fostering a sense of community and enhancing the overall property value. By carefully considering design principles, incorporating amenities, embracing technology, and engaging residents in the process, property owners and managers can create inviting shared spaces that cater to the diverse needs and preferences of their tenants. The investment in renovating multi-family common areas is sure to yield long-term benefits by attracting new tenants, improving resident satisfaction, and establishing a thriving community within the property.
LOOKING FOR A GC FOR YOUR NEXT PROJECT?
There is a lot of work that goes into managing all of the moving pieces of a common space improvement project. From flooring to drywall to plumbing and electrical, oftentimes success requires full time attention from a construction manager. A good General Contractor will help you save time and money while giving you peace of mind by transferring liability and a better chance of completing your project on time and on budget. Contact us today to discuss your project!