03 Oct Developers Target Gen Y
Generation Y grew up being told that they needed to go to college so they could get a good job. Who could have foreseen was that many would be coming out of college only to find themselves thrust into a time when jobs are harder to come by, even with top credentials.
Feeling the need to move to urban areas where the jobs are, a recent Apartments.com survey reveals that relocating for employment opportunities is the top reason respondents were planning to move in 2012.
Developers are looking for ways to compete with rentals for this generation and break ground on new projects to capitalize on the mass-migration trend. The target is usually a transitional or emerging neighborhood, allowing developers to price units at a more affordable level upon completion.
Emerging neighborhoods are trending to have retail come and fill in some of the gaps, offering a real community feel perfect for these mobile Millennials.
Gen Y renters also crave walkability and access to public transportation. What trends are you seeing for Gen Y renters or condo owners?