Designing the Property
Gatsby’s multi-family developments are designed to meet the unique needs of today’s buyers and renters in growing metro markets.
The design, layout, and finishes we choose depend on the exit strategy of the property. Some properties are developed to be sold as a whole to one single buyer, while other properties are designed to be sold to multiple buyers as TICs or condos. We tailor each property to the eventual buyer.
For the properties that are designed as TIC and condo developments, we create units that feel like home; we want to appeal to individual buyers who are looking for a unit to call home for the long term. These buyers want higher quality, more privacy, and a homey feeling. So we target residential locations, preferably with a mix of single-family and multi-family residential, and we design high-end units to meet buyer expectations.
For multi-family developments sold to one buyer, we implement a completely different strategy, creating units that will appeal to the eventual renters. By developing units that will be in demand by renters, we create demand from individual investors who wish to buy the property as a rental investment. To tailor our developments to today’s renters, we build large units with multiple bedrooms of equal size, each with an ensuite bathroom. This layout is ideal for today’s “co-living” trend in which renters are living with multiple roommates to split the rent and make housing more affordable. Similarly, growing families who have been priced out of the housing market are looking for large apartments with enough space to accommodate multiple children plus a home office.
To make sure our buildings are in high demand with investor-buyers, we choose amenities strategically. We avoid high-cost, high-maintenance amenities like pools, fitness centers, and elevators. And we include low-maintenance amenities that offer a competitive advantage, like extra parking, in-unit laundry, and rooftop decks.