AvalonBay's Kanso - MFR with no on-site staff, elevators, amenities
Curious whether anyone's familiar with this property or with other developers who are trying out this model.
Curious whether anyone's familiar with this property or with other developers who are trying out this model.
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I get omitting all amenities but no elevators on a property with 4 stories? Do elevators really increase rent that much? Would have to think a some tenants at this building over time will get injured or have a situation where getting up and down a staircase would be difficult or impossible for them.
It’s wrap construction. You park on the same level as your apartment. This is also how move-ins are conducted.
I mean omitting 4 sets of elevators is like taking out half a million bucks on 4 stories, I think it's more just getting every inch of efficiency you can by taking out all of the amenities. FWIW, I spoke to some folks at AVB about this and it seems like you can cut OpX down to like 25% and juice out a couple more units in exchange for rents. Even though I'm in multifamily, it's pretty appealing to me since I like the minimalist style and would rather get value out of it, and I'm sure they've done some market research on it to double check.
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