AMF Development Targets Millennials with California Micro Units
AMF Development LLC is targeting Millennials with its new one-bedroom micro units. The units will be part of the 208-unit Eleve Lofts & Skydeck community in Glendale, Calif., the first in a series of Young Urban Community projects that AMF Development is planning to develop.
Glendale, Calif.—AMF Development LLC is targeting Millennials with its new one-bedroom micro units. The units will be part of the 208-unit Eleve Lofts & Skydeck community in Glendale, Calif., the first in a series of Young Urban Community projects that AMF Development is planning to develop.
“The micro unit is a trend that is already picking up across the country,” Alan DiBartolomeo, chief development officer, AMF Development, tells MHN. “Eleve Glendale is the first of a series we intend to develop on the West Coast.”
Millennials, who make up 30 percent of the U.S. population, are becoming a key target demographic for developers. And according to a recent survey of Millennials by AMF Development, 62 percent of the respondents would rather live in a studio apartment than live in a larger space with a roommate, even if it costs more to do so.
The micro units are 400 square feet, and include a full kitchen with granite countertops and stainless steel appliances, in-unit washers and dryers, a full bath, living room, bedroom and closet.
“These designs address the housing needs for the technology savvy and social Gen Y crowd, and solve the economic challenge for developers in urban locations that have no land available and require density to make projects pencil out,” DiBartolomeo says. “It is an excellent solution to solving the lack of rental housing in our urban markets moving forward.”
Eleve Lofts & Skydeck Glendale is expected to open in the Spring of 2013. The rents will range from $1,500 to $2,800 per month.
