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.
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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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