Apartment buildings located near rivers, lakes and ocean shores earn extra money in rents.
“Renters pay an overall premium for waterfront apartments,” says Bob Thallander, president of Florida development for Bainbridge Companies, a multifamily developer headquartered in Wellington, Fla.
To build these properties, developers like Bainbridge fight off competitors and pay extra for land. Once they have the control of a waterfront site, they try to build units that give residents both views and access to the water and surrounding amenities—from walking paths to beaches and kayaking. “They want to see it and get out on it,” says Thallander.
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.