How Real Estate Developers Are Designing For Gen Z


Highlights of the Conversation:

  1. “Despite many of the headwinds that are happening, we are still long in the cycle. We still have plenty of residential projects but it is transitioning to more offices right now.”
  2. “We have a big issue with taxes right now, with the uncertainty of rising property taxes. Our accessor is changing how he is doing things which in the long term will be very good, in the next two years it introduces a lot of uncertainty.”
  3. “As rents have continued to rise in the previously most popular areas (River North, Goldcoast) development has naturally migrated to areas where people who still want to live in that high rise experience but can’t afford to pay three-thousand or more a month are able to do it for less. There are three buildings in the south loop that have finished in the last six months” 
  4. “Moving to the different neighborhoods are actually better because you are able to offer something different that the neighborhood hasn’t had a high rise product. And when you’re doing the next River North residential building it doesn’t feel like you’re really adding much to the neighborhood.”
  5. “The age demographic who are coming into the renting market grew up in the internet age, they want to order everything online. In our units every lock, every switch is all controllable by an app.”

Chicago has an interesting architectural landscape due to its size and lakefront location. Because of its tightly-built map and expansive population, the city is unique among its midwestern contemporaries.

The diversity of projects in the Windy City also makes it a bellwether for construction trends across the United States.

Chris Horney, Managing Director at MB Real Estate in Chicago examined the city’s position in the current real estate climate at the Chicago Build Expo in September.

“We’ve got plenty of things happening in Chicago. Despite many of the headwinds that are happening, we still have plenty of residential, though now it’s transitioning to office late in the cycle,” Horney said.

Being in a city that is already highly developed means that firms must look to new areas to in order to differentiate themselves from other projects both in aesthetic and price.

“Moving to the new neighborhoods is honestly better because at some point you can begin to offer something different to a new neighborhood that hasn’t had a product like a high-rise product,” Horney said.

Being able to shape the identity of a growing or previously neglected neighborhood with new development is also something that is important to Horney as well.

While Chicago may not have the available space of other American cities, creative developers are still finding ways to make their mark on the shores of Lake Michigan, and the region’s neighborhoods will be better for it.

Follow us on social media for the latest updates in B2B!



innovations in healthcare
Innovations in Healthcare: A Discussion with Dr. Craig Joseph at HIMSS 2024
May 24, 2024

Innovations in healthcare were easy to spot at the recent HIMSS 2024 conference. Healthcare Rethink’s Brian Urban caught up with one of those innovators for a live discussion at HIMSS 2024. podcast, Their conversation opens a window and dialogue into the cutting-edge trends reshaping healthcare technology today. This episode features Dr. Craig Joseph, the…

Read More
Preventing burnout
Achieving Professional Growth and Preventing Burnout: The Importance of Time Management and Support Networks in a Fast-Paced World
May 23, 2024

In today’s fast-paced world, balancing professional growth with personal well-being is more crucial than ever. With the rise of remote work, digital transformation, and the constant hustle culture, finding this balance has become a significant challenge for many. A survey conducted by Deloitte suggests that a whopping 77% of professionals experience burnout at work….

Read More
Fan-Centric Business Transformation
Prop Room
May 23, 2024

In this episode of the Fans First series, Jesse Cole, the mastermind behind the Savannah Bananas, shares with us that in the vibrant world of marketing, creativity knows no bounds—a philosophy embodied by a prop room and studio teeming with eclectic costumes and outlandish ideas. This creative hub, seemingly disconnected from conventional themes like bananas,…

Read More
Ace Gardner and Jacob Lewis discuss NIL Deals and Transfer Portals
NIL Deals and Transfer Portals are Also Impacting College Staff and Their Roles
May 23, 2024

College sports is undergoing a significant transformation with the advent of Name, Image, and Likeness (NIL) rights and the increasing prevalence of transfer portals. These changes are reshaping how college staff operate, presenting both opportunities and challenges. With the rise of NIL deals and transfer portals, understanding the behind-the-scenes impact on college coaching staff…

Read More