Adina David, Director Urban Living at Greystar, comments on the positive impact of urban living buildings on city dwelling.
Imagine arriving in a new city, by yourself, for a new job but without any friends. Then imagine conveniently moving into your home with just a suitcase, paying one bill for all your monthly living expenses, and joining your neighbours for a coffee on the roof terrace. Now imagine having the flexibility to do this often, in any global city, but only when you want or need to.
Cities have the ability to reinvent themselves constantly and should be looking to do so in order to support businesses attract the best talent and continue their sustainable growth.
We all know the trends impacting the way people live in cities. Affordability remains a key issue for middle-income earners, especially those living on their own. And in cities, single-person households account for between 30 and 50% of residents. It is true that during the pandemic some have chosen to move from one city to another. That trend was occurring pre-pandemic and will likely continue long-term given the prevalence of remote working. Mental health and loneliness are two other key areas negatively impacted by recent lockdowns and social distancing measures.
The proposed Urban Living buildings have been conceived to facilitate cost-effectiveness to the resident through more efficient unit design. Furthermore, this standardized design can be delivered using modern methods of construction which reduce carbon emissions during the delivery stage. The shared spaces throughout the building are conducive to socializing and collaborating. On-site management teams seamlessly integrate residents into the community through ample programming that encourages social connectedness. The reduced unit sizes also decrease energy consumption versus what would be required in conventional homes. Their locations in urban settings enables sustainable travel options too.
Urban Living can provide a solution to address many of the concerns that are faced by singles living in the city. The product is inspired by the security of long-term rental housing, the community-building of cultural hubs and social clubs, and the services and convenience of hospitality. The industry should be excited about a well-managed, flexible living option that is looking to tackle the above-mentioned trends.