Trends to Watch in the Multifamily Industry

With an increasing amount of consumers adopting the “renter-by-choice” lifestyle, development in the multifamily industry is up a whopping 14 percent from 2013 – and growing.  According to the online publication Building Design + Construction, the top five trends propelling the multifamily market are:

  • building in an urban setting,
  • creating affordable luxury for the middle class,
  • equipping common areas with resort-inspired amenities,
  • offering personalized service to residents, and
  • designing energy-efficient buildings.

Alliance currently has 11,000 units under construction across the country that, once complete, will appeal to a broad spectrum of renters, from millennials to empty-nesters. Each property will service different needs dependent on market fundamentals, yet the focus remains on developing high-end communities in walkable, urban locations. Reflective of these trends, residents are seeking out communities that offer personalized, on-demand amenities – from entry doors to HVAC systems. Many Alliance developments feature a mix of upscale, high-tech finishes such as direct-access parking garages, Nest Learning Thermostats®, virtual fitness classes and iCafe lounges.

“The holy grail [in the multifamily industry] is to customize and personalize services,” says Brad Cribbins, COO at Alliance and a recent panelist at the annual National Multifamily Housing Council’s OpTech Conference and Exposition.

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