Will Bike Storage Attract More Renters?

‘Innovative transportation option’ added as amenity.

By Keith Loria, Contributing Editor

New Orleans—The Domain Companies has teamed with Zagster, a leader in providing bike sharing programs for the real estate industry, to offer bike sharing to residents of three properties in Louisiana and New York City.

The three properties include the High Grove in Baton Rouge, La., The Paramount at South Market in New Orleans and Eleven33 in Greenpoint, Brooklyn.

“Our company philosophy is to get more people on bikes. Trends show it is increasing but the No. 1 barrier to why people don’t want to ride a bike, especially in urban environments, is they don’t want to deal with the hassle of storing it or maintaining it,” Timothy Ericson, Zagster’s co-founder and CEO, told MHN. “This is especially true in a multifamily environment.”

Many mixed-use developments are seeking to incorporate innovative transportation options to reduce congestion and increase sustainability. Bike sharing is a great way to do this.

“Zagster’s turnkey system, our small and flexible footprint, and easy user experience are a great fit for developers seeking to embed bike sharing in their developments,” Ericson said. “At the end of the day, they see value. It’s a low cost, high value amenity for their residents. And it makes for higher renewal rates; residents are more engaged and want to stay in their properties.”

The Domain Companies are already planning on rolling out the service to other properties in 2015 and beyond.

“Our tenants choose Domain Companies because of our focus on quality and our commitment to the community around us,” Megan McNeill, Domain’s marketing director, said. “The addition of Zagster helps us continue to deliver on those principles—it’s a great new amenity that offers a broader community benefit. We’re looking forward to welcoming Zagster to our upcoming projects later as well, including The Addison in Baton Rouge and The Beacon at South Market later this year.”

Zagster’s cruiser-style bikes are available to residents by the hour or the day, giving them a convenient, healthy and fun way to get around the city.

Residents can join by downloading the Zagster Mobile App, available for iPhone and Android, or online at Zagster sites customized for each property. To use the Mobile App, riders simply enter the unique ID number of the bike they wish to use and an access code for the lock box is provided.

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