New Colorado Community Appeals to Gen Y
- Apr 18, 2012
Denver—Move aside, baby boomers and Gen X. Some multifamily developers are now appealing to Gen Y renters. KTGY Group Inc. has recently completed the first of eight three-story buildings at the Arista Uptown Apartments in Broomfield, Colo. This community was designed specifically with Gen Y in mind.
“The Gen Y population has surpassed the number of baby boomers and is expected to reach 32 percent of the population by 2020,” Nathan Sciarra, director, KTGY, tells MHN.
Arista is a transit-oriented community located between Denver and Boulder. The community will feature 272 units, including 18 studios, 149 one-bedroom units and 105 two-bedroom units.
The community amenities include a clubhouse and fitness center, as well as a courtyard with an outdoor pool and spa, barbeques and a private lawn people refer to as “Central Dog Park,” which includes an off-leash dog area.
What KTGY really hopes will attract Gen Y residents is Arista’s location. The community is located near public transportation, and it’s in walking distance from a retail center, banks, parks, offices and employment centers.
“In today’s economy, Gen Y prefers to rent and wants to be in locations that are easily accessible to downtown using public transit,” Sciarra says. “They desire convenient access to employment, restaurants, shopping, and nightlife. Gen Y wants all the amenities of resort-living and, since pets are very important to people in Colorado, Arista has included a Central Dog Park in addition to the many amenities offered in this well-situated community.”
Pre-leasing is slated for the beginning of May, with the first move ins in the summer 2012.