Based in BSB Design’s Chicago office, local expert Elke Anstadt has been designing multifamily projects throughout the Midwest for nearly 30 years. She provides a “boots-on-the-ground” perspective about the current multifamily market where she lives and works:
TRENDING: Uniquely Themed Multifamily Buildings
Our clients are steering away from the typical, design-sterile multifamily buildings of the past. They are encouraging our design teams to use more articulation and higher-end materials as we edge toward trendy. More modern buildings and flat roofs are newly built or under development throughout the metro, and with this higher design aesthetic, we’re seeing developers create more amenity-rich programming.
EXTENDING: Out of State Development
I’ve noticed that many local developers are now doing more work in other states. This could be a calculated growth strategy, but from my perspective, looking outside the state might be a response to the increasing entitlement challenges these developers have been facing in Illinois.
REPOSITIONING: Office and Warehouse Conversions
While the true profit potential of conversions has yet to be fully understood, I am definitely hearing the buzz about turning offices and warehouses into residential projects. Several of our current clients are considering this route versus traditional greenfield development opportunities. They are unique projects with interesting challenges to solve.
AMENITIZING: Priorities for Work AND Play
Our developer clients understand the constant pressure to dial in on the most desirable amenity package for today’s renters. We are seeing more and more properties include amenities uniquely designed for work, including private remote work suites, shared co-working spaces, and fully connected wifi inside and out. Recreational amenities are still important, but renters want great work areas to supplement their private in-unit work spaces.
Elke Anstadt is Director of Architecture Development for BSB Design in Chicago. She has more than 25 years of experience in project management and construction administration in project work for multifamily, clubhouse and single family housing. Elke has extensive experience maintaining client relations, construction administration, budget management, staff coordination and bidding analysis. She works with some of the largest regional and national builders and developers in the Chicago region and across the country.