Fads come and go, and tastes are constantly changing. (For example: the recent box office flop The Lone Ranger, which tried to capitalize on a TV western from the ’50s.) This applies to amenities as well.
The New York Times recently ran an article about how some amenities that were popular when a building was first developed are losing their luster. In an attempt to revitalize these spaces, the old amenities are being swapped out for newer, shinier amenities in the hopes of appealing to new residents—a former party space is now a lounge with pool tables, a former massage room is now a stroller-storage area.
It’s important to see what your competitors are doing. If communal bikes are the hottest amenity at the time, then it’ll probably be good to have one. However, be aware of which of these amenities are actually used—people might laud these bikes as being a great way to go green, but do they actually rent them out, or do the bikes end up sitting there all week taking up space?
Read on for the rest of the blog.