The dust has mostly settled from the recession, and the market sector that caters to clientele with deep pockets is becoming one of the strongest parts of the American economy. Bigger is better, and glamor definitely sells when it comes to high-rise amenities in South Florida's condominiums and apartment buildings.
And while the region's real estate market is hot and booming—and has been that way for months—it can never hurt to have the 'x-factor' that will pique buyers' interests and raise owners' investment value. And in a high-rise building, that x-factor might just be an amazing amenity—the more creative and innovative, the better for attracting new residents. Not so long ago, simply having a gym in a building plus a business center was a great amenity. Now? That’s standard.
Raising the Bar
When a developer figures out their building’s amenities, they are usually thinking of how to set their building apart from all the others, says Nick Smyka, leasing manager with Nick123.com, based in Tampa. “If people are looking at different properties, the places with the different amenities are standing out and it becomes more of a draw,” he says.
“With the uptick in the economy, we're seeing a big push for the buildings to give a facelift to the common areas, be it the lobby, the hallway, the party rooms, or the gyms,” adds Todd Gomberg, owner of Capital Contractor Services in Hallandale. “We're working with a lot of buildings on upcoming projects where they're spending a lot of money on everything from new carpets to new lights.” Those investments are also going into new features and amenities for the buildings.
Part of the trend involves taking traditional amenities like pools and party rooms, and fortifying what they offer. Instead of a few deck chairs and a fresh towel, high-end buildings might include a gazebo with a TV, and a couple barbecue grills for use. “You see a lot more hotel-type luxuries being brought into condominiums. When they're at their condo, whether it's their first or second home, people—especially snowbirds—want to feel like they're on vacation. And I think a lot of buildings are trying to give that turn-key service,” says Gomberg.
Higher-end buildings also tend to keep up with fitness trends faster, and incorporate some of the most popular leisure activities before other communities. In the past, a standard gym room with a treadmill or two and some weight machines was commonplace. Now, that setup is being added to, and in some cases completely replaced with other amenities. “We're definitely seeing more stand-alone spas in condominiums,” says Gomberg. “It used to be that only the spas that were tied in with condo hotels would offer their services to the condominium owners. Now, you're seeing condos build spas right into the condominiums from day one—so that's certainly changed with the times.”
Bringing it Home
It's not just common elements that are starting resemble hotels more and more. Units are following the same trends. Building services are becoming more available to owners from inside their home than ever before. Concierge services in high-end buildings are more popular than ever. A concierge at a hotel can help you with your visit by suggesting restaurants or a night at the theater, and they also can be a point person for any issues regarding services to your room. A condo concierge can do those things, and also provide more domestic services as well, like coordinating laundry drop-offs, mail, and grocery runs.
“Several associations...have introduced the new position of Director of Resident Services, a position whose sole responsibility is to oversee the association’s amenity programs,” says David Cohen, LCAM, vice president for service excellence for AKAM On-Site, Inc. a residential management company in Dania Beach. “For example, we recently introduced our new ‘At Your Service’ concierge program. Similar to the concierge services offered by five-star hotels, the program assists owners and residents with everything from personal shopping to engaging a handyman to renting the apartment when the owner is away,” he says.
As texting and written communication has replaced phone conversations in everyday life for many, these new services reflect that. Now, new constructions are providing a host of new technologies to make service more efficient than ever. “The other things we're seeing is what's called smart buildings. That's where they have the panels built into the wall, and basically, for all of your luxury services; ordering food, a spa, reserving a tennis court, calling your car from the valet, you don't have to even talk to anybody. You basically have a touchscreen in the wall and you basically communicate what you want to building management through there. So obviously, that's a great interior item,” says Gomberg.
Many luxury buildings are adding cooking classes and wine tastings as amenities because the building managers and developers don’t need to actually build anything—but these amenities are appreciated by residents and can be offered in existing areas of the building, such as the party room, the deck or the kitchen area, and they did require much extra in the way of costs to the building. “As with all things, in luxury associations where owners have greater resources, there are likely to be more and fancier amenities,” says Cohen, “but the installation of a few exercise machines or the designation of an area as a children’s room does not require a tremendous investment.” That said, they do require supervision from instructors and other costs.
And while even more modest buildings tend to provide a fitness center or a gym—and even a small pool area—business centers are becoming a quickly outdated amenity since there are few people who don’t own their own computer and printer, or at least their own smartphone. However, if a full kitchen is provided—within a clubhouse or in a party room, buyers perk up.
The market for such high-end amenities is getting so competitive, that new developments are trying to separate themselves from the pack by providing very novel services, perhaps even tied to a popular brand. Take the Porsche Design Tower, currently under construction in Miami. “It’s super high-end luxury, where you can have two to four cars park in your actual unit and you'll see they actually show renderings of a Rolls-Royce and a Porsche right in your living room. So, you literally park it in your unit and you get in your car in your unit, take the elevator down, and you're in the street right from your unit,” says Gomberg.
The Price of Privilege
Whether it’s a new development, or an association decides to retrofit a clubhouse into a spa, new amenities obviously don’t come for free. That said, the cost of an upgrade need not be astronomical. “It's not easy,” says Gomberg. “Obviously you have to get plans, you have to get permits, you have to run the plumbing lines, you have to install the equipment. But these are tangible items; it doesn't take more than that.”
It’s not just a change in attitudes among South Florida residents. The residents themselves are changing. Pastimes like playing cards or reading in a cozy common-area library just aren’t as appealing to younger generations. “A lot of buildings down here have libraries with tons of books,” says Gomberg. “Obviously with the technology today of iPads and all that good stuff, people aren't going down to pick up a book from a condominium library, so maybe they're turning that space into the yoga studio. I think it's changing with the times and the trends in the younger demographics.”
The South Florida area is an international destination for vacationers, and for very wealthy folks outside the U.S., it’s not uncommon to buy their own real estate to spend their time in a few weeks out of the year. The taste and influence of an international clientele has led to some changes in buildings over the years.
“The most significant difference we have seen in common areas is the tendency toward smaller lobbies in newly-constructed properties,” says Cohen. “This reflects the influence of international buyers who purchase in South Florida. At the same time, the use of common space for a wine cellar or a dog spa is also becoming more commonplace.”
Other amenities that buyers tend to love are media rooms and theater rooms where they can bring their own movies and have friends over for movie nights, theater-style. Some buildings might even include a resort-inspired pool complete with a sunning deck, shaded gazebos with fire pits and even a grotto with open showers and a big spa. Not unheard of are two-story gyms, or a therapy room that’s big enough for couples’ massages. A clubroom might be attached to such an amenity. With foodie culture gaining more steam in popular culture, many buildings are now adding things like a catering kitchen with a dining room.
Some of the trickle-down costs associated with certain amenities have more to do with the cost of maintaining them than they do with any notions of status or exclusivity. If a building has a pool, the community must defray the cost of insurance, and must cover the high maintenance cost for the pool itself. If they have an in-house salon, they may have to pay salaries for workers, regardless of whether the workers are booked for a particular time slot. There are heating and cooling bills for pools and amenity floors, there’s upkeep for video and media rooms, and there are salaries to pay for supervisory staff as well.
In the end, money can’t buy love, but at least you know it can pay for amenities, which can sometimes be just as good—especially when it comes to adding value, attracting new buyers and retaining residents.
Danielle Braff is a freelance writer and a frequent contributor to The South Florida Cooperator. Editorial Assistant Tom Lisi contributed to this article.
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