"Lots in the Sky"
The complexities of a high-rise/high density project requires a studied approach and proven methodology. Luxury high-rises must be designed to provide the product high-end renters and buyers demand. Foley & Puls has helped create winning strategies for projects across the US.
High rise apartment projects offer the developer the opportunity to capitalize on views - an important factor that must not be overlooked. Our research demonstrates that large, quality floor plans built to capitalize on the views of the skylines from the living room, master bed wall, kitchen, dining rooms and balconies have captured renter households with more than double the incomes of similar square footage units without the skyline views.
Our methodology includes the study of the inventory per unit type and the rents in the high-end rental market. We then study the properties that are out-performing the market by unit type, and evaluate what product style, unit amenities and property amenities capture higher income households. We determine the depth of the incomes in the market via our income-driven demand model and determine the largest depth by income range and targeted renter age range. This analysis develops the market into target markets for different product lines by unit type and projected rents.
We also analyze and present recommendations based on site orientation, sound, sun-exposure, view obstructions and other site considerations. And, because parking is a significant issue for high-rise/high-density projects, we can also provide parking studies and recommendations.