After New York’s first micro-apartment building, Carmel Place, garnered over 60,000 rental applications early last year, whispers of the marketability and affordability of micro-units have rippled across the U.S. Among rising developments in Miami, Kansas City, and Queens, pro micro-apartment legislation in California has reached the senate level.
When it comes to architecture trends, micro-apartments are all the rage. It’s hard not to be impressed when you see a 420-square-foot apartment transform into 6 functional rooms, accommodate 12 person dinner parties, and house 2 overnight guests. The question is, will it affect the multi-family industry? With New York’s city council approving the development of their first micro-apartments (against the 400-square-foot apartment minimum) in an attempt to experiment with affordable housing options, it’s safe to say it soon will be. That being said, no one will start renting out micro-apartments until some necessary changes are made.