Saunas, Bowling Alley's, and Views

I recently visited Twisted Horns Ridge in Texas, and some of the amenities there made me reflect on the amenities being offered in new apartment communities.

In this brief article, I'll highlight some of the Class A amenities being added to apartment complexes today. Unfortunately, none of them can match the stunning view that Twisted Horns offers. I snapped this photo just 60 seconds after opening my eyes on Saturday morning.

Moving on...

I strongly encourage everyone to fully understand the implications of pro forma rents when considering any deal. When reviewing comparable properties, ensure the Sponsor is adjusting their expected rents based on various factors such as location, unit size, finish level, and amenities. It's important to assess which amenities actually influence rent and what tenants in your area prioritize. If tenants are primarily focused on price, they won’t care about having a sauna or a great view—they’ll only care about the amount coming out of their paycheck each month.

Before diving into the cool, Class A amenities, I came across this chart, which I found extremely interesting and should be helpful in making your investment decisions.

Here are some of the most interesting amenities I've come across while researching investments, staying up-to-date on upcoming trends, and even considering where I’d want to live in Austin, TX, in late 2024.

Sauna:

Dog Park:

Views/Pool:

This photo was taken from the complex I currently live in in Austin, TX. This pool deck also looks out over Lady Bird Lake which is an added plus! 

Direct Access to Mixed Use/Retail:

Bowling Alley:

Golf Simulator:

Common Areas:

Apartment developers are always going to innovate and find creative ways to set their properties apart from the competition. As limited partners, it's equally important to do the same. I'll leave you with a thought to keep in mind when evaluating investments: "Why would a tenant choose to live here instead of somewhere else?" It could be a lower price, better quality, or a prime location, but there should always be a clear reason and a solid thesis behind it.