Apartments in live-work-play communities are the next big thing in real estate development, especially nowadays, when hybrid work models abound.
Here are the highlights for Atlanta:
- The last decade alone (2012-2021) brought 9,200 new apartments in live-work-play developments, accounting for 15% of the city's rentals built in this timeframe.
- The trend will likely continue, as future development will bring another 5,300 apartments starting in 2022 and onwards.
- How much living vs. work-play? The ratio between living space and work-play areas is 77%-23% in Atlanta.
- Of course, it's not all work. The play part of these buildings includes amenities such as fitness centers, which are the most common, but also clubhouses and spas, tennis courts, not to mention some essentials: grocery stores and restaurants.
- Nationally, construction quadrupled compared to 10 years ago, from 10,000 to 43,700 new apartments per year.
Mixed-use developments are a smart solution for high-density urban areas that are lacking space. They're increasingly popular with younger generations who are highly conscientious of our environment. And it seems that developers are catching on to the trend as well.
Check out all the graphs and data they have put together in a full study: Live-Work-Play Apartments Quadrupled in 10 Years, Blending Lifestyle & Workstyle in a Post-Pandemic World