More and more people are craving resort style living spaces right from the comfort of their homes. That’s right: top level amenities are in demand in the high-end residential market, and to stay competitive, your building better has one!
As we have talked about more traditional and conventional amenities throughout this series, it is time to bring up some of the more exotic resort-style-living amenities.
These are highly beneficial for hotel projects and high-end residential towers; nevertheless, some other rooftop amenity projects might also be a great fit due to a specific demographic factor.
It is common for some of these amenities to not be for tenants’ exclusive use. This means that the owner of the building can lease the space to a business that can use it to provide a valued service, and as a result, bring extra revenue to the owners. It is also common for tenants to receive a considerable discount to use the amenity space or services.
LUXURY & LEASED: EXAMPLES OF ROOFTOP AMENITIES
Spas: Spas can inspire a demographic of high value tenant to desire your building more than others, and also bring some extra revenue to the property.
A rooftop spa can offer a stunning and majestic experience that you just can’t get on a ground floor. Typically, the property management would lease out the space to a spa company for extra revenue. The building owners can negotiate a discount price for tenants.
Note: Whenever you are bringing in people into the building who do not live there for commercial purposes, it is important to consider the privacy of your tenants.
A residential building that leverages the rooftop for extra commercial profits should be designed in a way that separates the entrances and user experience for tenants.
Restaurants: Many urban towers in magnificent locations and with amazing rooftop views can leverage this space for extra revenues. Incorporating a high-end restaurant to your rooftop amenity is a great way to achieve this. As stated in the note above, your building should consider this addition early in the design process, and your architects should work hand in hand with an amenity specialist to make sure the gaps are covered, and mitigate back-pedaling risks.
Whenever there is food and drinks involved, there are supplies and supply chains involved as well. To keep all of this separate from your tenant residential life, consider separate entrances and elevators for the different types of users.
Why is this worth it? Well, it can mean a significant increase in the revenues a property can yield.
Clubs & Bars: A new trend in urban development is mixed-use residential towers. These can be designed in a way to comfortably house both permanent tenants and guests (hotel) in one building. Permanent residents enjoy nontraditional resort style amenities while guests receive what it is to be expected from a high-end hotel. In this case, rooftop bars and clubs are a great fit.
Because the building is already designed in a way that it respects both residential and guest lifestyles, going the extra mile by incorporating a club or a bar on the roof might not represent that big of an investment, yet the returns can be in the high percentages.