Condo Amenities: 2023 Power Rankings

Sourced By: Storeys Custom Studio 

At a time when applications for new builds are seemingly endless, not all condo amenities are created equal.

The common denominator is convenience: amenities should remove the requirement for residents to leave the building for everyday routines and rhythms. But, as life evolves, so do the types of amenities today’s (and tomorrow’s) condo dwellers really want — and need.

To analyze the rise and fall of amenities in new builds, Spark Real Estate Technologies— a Vancouver-based company that specializes in new development sales and marketing software — surveyed a panel of industry experts based on what they were seeing in the market.

The panel ranked each condo amenity in terms of homeowner desirability in 2023, and assessed whether that ranking is on the rise, unchanged, or sinking. The results were then reviewed, consolidated, and curated into the rankings shown below.

With backgrounds in everything from urban planning to media to real estate software sales, this expert panel includes Naama Blonder (Urban Planner, Smart Density); Laura Hanrahan (Deputy Editor, Storeys Publishing); Jessica Radziszewska (Vice President of Sales, Spark); Riel Sammy (Strategic Director, Channel 13 Advertising & Design Inc.); and Sally Turner (Director of Consulting, Urbanation).

In the findings there were several surprises, some signs of the times, and more than a few no-brainers. Here’s what’s hot – and what’s not – when it comes to today’s condo amenities:

1. Rooftop and Green Space |

Access to quality green space took on a whole new meaning during the pandemic. With cities rapidly increasing in density, and urban parkland limited, new condo developments have increased their outdoor amenity program in recent years, as fresh air went from nice-to-have to essential. This is especially true at a time when more young families are living in condos, with more new builds including playgrounds.

“Well-programmed outdoor space on a patio or courtyard is essential in a building with efficiently-sized suites,” says Turner. “But the outdoor patio of today should include a variety of group seating options, and consider including a pizza oven, well maintained natural landscape boxes, and where possible, outdoor game areas.”

2. Exercise Room |

 

 

Whether or not they’re utilized as often as one would hope, the demand for exercise rooms and gyms in condos isn’t going to waver any time soon.

“Exercise rooms are a must-have, but should be designed with ample natural light and a variety of machines that could reasonably replace a gym membership,” says Turner. “Society has enjoyed going back into group fitness settings and will pay premiums for elite gyms, classes and training in reaction to a sense of losing it for so long.”

3. Meeting/Party Rooms |

While they may have been celebrated as perks decades ago, offerings like meeting rooms and party rooms are now considered a given – but are still important.

“I think there are some amenities that every buyer would expect, or heavily desire, their building to have — things like a gym, pool, party room, and rooftop,” says Hanrahan.

In fact, shared spaces meant for gatherings and celebrations could be even moreimportant in present day, as the number of young families living in condos is on the rise. Where better to host a birthday than a space dedicated to parties?

READ ON