29
PART
DENVER RISING
Breaking the Mold
Non-Traditional Options in Apartment Living :
Conversion , Build-to-Rent , and Co-Living
BY ERIN SHUMAKER AND SCOTT RATHBUN
AMBER CREEK
For this issue we will step away from the traditional apartment communities that we normally feature to address some non-traditional trends that are breaking the mold in the rental market . We will focus on three properties that represent the most popular development types , including the build-to-rent community of Amber Creek , the conversion of an office building at Notable , and the co-living community at X Denver .
Build-to-Rent ( BTR ) One of the most talked about trends in the apartment world recently has been the build-to-rent ( BTR ) phenomenon . Though slightly different , similar concepts include single-family rentals ( SFR ) and build-for-rent ( BFR ). These variations include townhome rentals , paired-home rentals , and the rental of separate , individual homes .
Although we don ’ t view this as completely new to the rental market ( apartment properties have included rental townhomes for decades ), interest in this property type has increased as the price of single-family homes have spiked , causing fewer people to be able to afford homeownership . BTR also appeals to younger renters that can ’ t afford to purchase a home but want to start a family . In addition , as baby boomers have started downsizing , they like the idea of a rental type that is more familiar to their single-family lifestyle than traditional apartments , plus provides the flexibility of maintenancefree living .
While we anticipate this trend will continue as home ownership remains less attainable , we believe most BTR product will be developed in peripheral suburbs such as Brighton , Commerce City , Frederick , Firestone , Fort Lupton , Windsor , Johnstown , www . aamdhq . org OCTOBER 2022 TRENDS | 21