3 Design Strategies for Multifamily Investors

After purchasing an older property, new owners usually look for ways to make the units and common spaces more livable and more attractive. Here are three ideas from Horizon Realty Group’s Jeff Michael.

Whether you invest in, develop or manage residential buildings, you’re always trying to make the most of your budget and invest wisely in your properties to help attract great residents. Giving a little extra attention to design can go a long way toward meeting those goals in cost-effective and eye-catching fashion.

We like to use the term “adaptive reuse” in describing much of the work undertaken by my Chicago-based company when we purchase and renovate nondescript, mid-century buildings in aging parts of the city that have fallen into disrepair over the decades.

There are things you can and can’t do. Concrete structures with units that have 8-foot ceilings can’t magically be transformed into 10-foot-high grand palaces. But we can, for example, move around interior walls to create rooms that work for today’s lifestyles, rip out carpeting that’s covering beautiful hardwood, patch and paint the walls for a major refresh and, if we happen to still encounter any in 2019, peel off aging psychedelic wallpaper.

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