Long defined by easily-turned-over efficiency apartments, DC builders are working overtime to meet new demand for luxury housing in the nation’s capital.
Last week, BSH and TRD brought representatives of the city’s design, development and operations communities together for a frank discussion about what’s working, and what isn’t, in the DC luxury space. The event was hosted at the BSH Experience & Design Center, the capital’s home for everything Bosch, Thermador and Gaggenau.
Across the three speakers’ portfolios, one trend has emerged: today’s luxury buyers don’t crave fancy pools or double height lobbies. For them, convenient amenities, services and retailers that allow them to save time throughout their day is the ultimate luxury.
“We retain our tenants because we have what’s actually serving their lifestyle day to day,” said Robin Bettarel, Head of Multifamily, EYA. “They’re not out there playing one on one basketball every day, but they are using the private co-working space every Monday and Friday.”
These decisions play into every stage of the design, development and operations process. Andrew Son, CEO, District Wharf Properties, recalled his team prioritizing both the built environment and the activations within that space. This included hosting free events on the site before the residential element was completed, creating a thriving sense of place into which buyers could move once the homes hit the market.
“We say it tongue in cheek, but when you step onto The Wharf, it should feel like a Beltway Disneyland,” said Son. “The experience we’ve created around it, including the programming, is our secret sauce.”
None of this suggests that high-quality amenities spaces are unimportant. Rather, the bar has been raised in the luxury space to the point that well-appointed, precisely-maintained facilities are necessary but no longer sufficient.
“We always laugh about the first thing that a lot of developers talk about is that pool that nobody ever uses,” joked Robert Jaekel, Studio Director and Residential Leader, Gensler’s Southeast. “You have to build it because it’s on the lease walk, and that’s the thing that attracts people, but it’s the club rooms, it’s the lounges, it’s anything that can connect you with your neighbor.”
In DC, luxury is being defined by how living in a building makes residents feel and how it changes their ability to control their time.
“The Building Luxury conversation reflected exactly what we’re seeing in Washington, D.C. right now: a more discerning luxury buyer who values design, experience, and a sense of place as much as the home itself,” said Adrian Thomas Harris, Manager, Washington DC Experience and Design Center, BSH. “With The Real Deal helping to elevate the conversation, the evening brought added visibility to the ideas, trends, and leaders shaping the future of luxury in our market. At BSH, we were proud to host the event at our Experience & Design Center, where thoughtful innovation and elevated design came together in a setting that mirrored the future of luxury living in our city.”
Head over to the Appliance Innovation Hub to explore the world of BSH, and be sure to join BSH and TRD for the next Building Luxury event in Houston on September 30. If you’d like to apply to be a speaker at a future event, reach out to remy.williams@therealdeal.com for more information.