Is Madison, WI ready for micro-apartments?
We found an interesting article on micro-apartments on National Real Estate Investor today. Â The apartments range in size from just 300 square feet to 500 SF and often times share amenities such as communal chef kitchens and roof top gardens. Â With such a young and vibrant millennial and high tech demographic in Madison, these sure seem like a product category that could get some legs in this city. Â Coffee shops like Colectivo embrace the idea of sharing tables with strangers, and we don’t think it is far behind that renters will embrace sharing kitchens and other amenities. Â Best of all, if done right, it should make renting far more affordable for recent college grads and others that may not have Epic pay checks.
What are your thoughts? Â Do you want to see micro-apartments come to Madison, WI?
I would love to se projects like this in Madison.
This is a wonderful idea and a way to provide more afforable housing to many. Not just recent grads but seniors, those working in non-profits (who usually don’t earn much), other lower-wage workers, single parents too. Many a single parent would settle for a small apartment that was affordable and safe, so they could pay down debt, save for their child’s future, etc.
If these buldings had common lounges, common exercise rooms, a children & toddler’s room, that would promote a sense of community and allow different generations to support each other. Retired seniors could help with childcare and tutoring and general life advice. Younger adults could assist other residents with tech support. A richer community for all.
There are “intentional communities” cooperatives and cohousing which work on this model, in Denmark, Germany, the United States, and other places. All make a commitment to shared spaces and some form of community building. What a great alternative to the social isolation of most suburban living.