The CEO of Redlands, California-based firm The UCR Group, Stephen Reeder is a real estate development executive with experience in master planned communities, condominiums, single-family homes, and subdivisions. Most recently, Stephen Reeder and his colleagues at The UCR Group have focused primarily on the development of multifamily housing projects in the San Bernardino County area.
According to data from the first half of 2018, the multifamily housing market continued to experience a lucrative growth trend in the first six months of the year. As competition in the market also continues, investors may look to consider a new factor that industry experts are expecting to significantly influence the future of multifamily housing: the “Generation Z” renter.
Leadership from the firm 365 Connect notes that, though the Millennial generation is noted for the significant amounts of money its members spent in real estate rental, members of Generation Z are likely to spend even more. At the same time, this group is notoriously difficult for marketers to understand, as they represent the first generation to grow up in a fully digital world. Early recommendations for multifamily housing investors who wish to appeal to Generation Z renters include focusing on high-tech amenities, opportunities to engage with new life experiences, and designs that inspire those who are naturally entrepreneurial.
