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Elevating multifamily properties through quiet luxury

Multifamily Housing

Elevating multifamily properties through quiet luxury

By understanding the foundational principles of quiet luxury, you can explore the specific advantages it brings to multifamily properties.

By Sonya Haffey, CEO, V Starr | June 17, 2024
Multifamily property quiet luxury lounge
Photo courtesy V Starr

As the demands of urban living continue to evolve, the need for a tranquil and refined home environment has never been more pronounced. Residents are increasingly seeking spaces that offer a respite from the bustling city life, longing for places where they can unwind and find peace.

This desire has given rise to the trend of "quiet luxury" influences in multifamily properties, an ethos centered on understated elegance, quality, and serenity. This approach prioritizes the creation of spaces that exude a sense of calm and refinement, with every detail curated to evoke a feeling of indulgence. 

Combining high-end design with practical living spaces can improve residents’ quality of life. This approach enhances resident experiences and establishes new standards of comfort and sophistication. One of our most recent projects, Modera Coral Springs, exemplifies this type of transition for multifamily spaces. This development introduces modern, market-rate apartments that offer a holistic living environment through key elements such as luxury amenities and thoughtfully-designed community spaces.

How to identify quiet luxury?

High-quality materials play a crucial role in defining quiet luxury. Modera Coral Springs features heavy-grained stones and terrazzos are used alongside bleached wood tones to create a sophisticated space. These materials are not only visually appealing but also tactile, enhancing the sensory experience of the built environment.

Quiet luxury multifamily property
Photos courtesy V Starr

To further enhance the living experience, a property should offer top-notch amenities that align with the quiet luxury ethos. At Modera Coral Springs, these include a club room, dedicated coworking space, game room, fitness center, rooftop deck, and pool deck. Each amenity is designed with a warm, organic connection to the region, ensuring that residents have access to both relaxation and recreation.

By understanding the foundational principles of quiet luxury, you can explore the specific advantages it brings to multifamily properties.

Enhanced Resident Satisfaction

Residents who experience the environments created by this design philosophy are more likely to renew their leases, leading to higher retention rates. The lifestyle benefits offered by such spaces—where comfort and luxury are seamlessly blended—make residents feel more valued and content, contributing to a sense of well-being.

Multifamily exercise room
Photo courtesy V Starr

Increased Property Value

Properties that incorporate quiet luxury elements often see an increase in their market value. High-quality finishes, premium amenities, and sophisticated design contribute to a perception of greater worth, making the property more attractive to potential investors and buyers.

Elevated Brand Image

Branding extends beyond logos and marketing materials; it encompasses the overall experience and perception of the property. These design principles provide a cohesive and consistent aesthetic that aligns with the property's brand identity. This consistency can differentiate these properties from competitors that may prioritize more conventional or generic design approaches.

While the concept of quiet luxury might evoke images of high costs, it is possible to incorporate this trend affordably by focusing on strategic planning and thoughtful design choices, while maximizing the impact of each investment. 

Quiet luxury material in multifamily housing
Photo courtesy V Starr

Strategic Material Selection

Choose timeless materials such as natural stone, wood veneers, and high-quality laminates that can lend a sense of luxury without breaking the budget.

Thoughtful Space Planning

Utilize natural light to create an airy and inviting atmosphere. Optimize window placements and use light-colored finishes to reflect light and make spaces feel brighter and more spacious. Planning also involves creating functional layouts. Focus on curating efficient and functional layouts that maximize space utilization and enhance the overall flow of the multifamily units. This can make even modestly sized units feel luxurious and comfortable.

Efficient Use of Amenities

Design multifunctional spaces that can serve multiple purposes to maximize their utility and appeal. For example, a community room could double as a coworking space during the day and a social gathering space in the evenings, offering residents flexibility and convenience without the need for additional square footage.

Flexible quiet luxury spaces in multifamily property
Photos courtesy V Starr

By prioritizing quality, serenity, and understated elegance, developers can create environments that meet the evolving needs of urban residents. Our recent collaborations showcase the potential of this approach, offering a blueprint for how multifamily properties can evolve to provide a more fulfilling living experience for residents.

As urban living continues to change, the adoption of these design principles will likely become a key differentiator in the real estate market, setting new standards for market-rate apartments and resident satisfaction.

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