Designed for greatness: Trillium Residential's "Great Rooms" offer uncommon amenities to attract Generation X and Generation Y residents.[ILLUSTRATION OMITTED] The enticement begins before a prospective resident walks in the entrance, with soft music, freshly planted mature trees and a massage table that beckons through a glass window. But it's what's inside that often seals the deal before the prospective residents ever see a floor plan: an 8,000-square-foot "Great Room" decorated in delicious shades of green Shades of Green is a United States Department of Defense-owned resort located at Walt Disney World in Lake Buena Vista, Florida. It is an Armed Forces Recreation Center (AFRC) resort and therefore a part of the military's Morale, Welfare, and Recreation program (MWR). with a walk-in wine storage cooler, commercial quality chef's demonstration kitchen and TV screens embedded in the restroom mirrors. Welcome to Trillium trillium or wake-robin (trĭl`ēəm), any plant of the large genus Trillium, attractive spring wildflowers of the family Liliaceae (lily family), native to North America and E Asia. Cave Creek Cave Creek may refer to:
"The goal of the Great Room is connectivity," said LaRocca, who spent months researching these two niche groups that want a balance between work and home. "It's about getting to know your neighbors through activities and events." Marketing a Lifestyle Although prices are among the highest in the area's submarket at $920 to $1,495 per unit, Trillium Cave Creek experienced nine leases within its first three days open, company executives said. Community Director Stacey Manzella said the Great Room has made it easier to turn lookers Lookers is a car dealership chain in the United Kingdom with over 90 dealerships turning over in excess of £1bn annually. Reg Vardy In January 2006, Lookers offered 875p per share for larger rival Reg Vardy. into leasers. "We have a great product for selling," Manzella said. "People can visualize it and see themselves living here and sitting around the bar. People come in and they are just amazed a·maze v. a·mazed, a·maz·ing, a·maz·es v.tr. 1. To affect with great wonder; astonish. See Synonyms at surprise. 2. Obsolete To bewilder; perplex. v.intr. . They can't believe it's a rental community." Special touches include fresh white towels for the adjacent pool, sushi rolling Sushi Roll A candlestick pattern consisting of 10 bars where the first five (inside bars) are confined within a narrow range of highs and lows and the second five (outside bars) engulf the first with both a higher high and lower low. and other cooking demonstrations by guest chefs and "lifestyle specialists" who will play Nintendo Wii or a game of pool with residents. [ILLUSTRATION OMITTED] Housing Crisis Survival A severe housing slump and the economic downturn in Phoenix did not deter the project. Phoenix is actually a better market right now for Class A apartments than most people think, said David Dewar, one of three principals of Trillium Residential LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , which is one of the largest developers of apartments in the Phoenix area. "Phoenix is one of the biggest apartment markets in the country," said Dewar, who predicts job growth in the very near term will escalate in the region. "It's getting a bad rap with this whole shadow market that's really only a concern to outlying areas." Foreclosures can benefit apartment builders that, like Trillium, are focusing on infill projects, Dewar said. Higher downpayments on single-family homes are scaring away young professionals. Many also don't want the expense and trouble of caring for a home, Dewar said. Bullish and optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op , Trillium did not hesitate to reverse action to buy vacant land in outlying areas that had been in escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. earlier this year. It continues to move ahead with several Great Room projects in the Phoenix area. Plush amenities are Trillium's ace in the hole to lure prospective residents away from an estimated 20,000 to 25,000 single-family homes and condo units currently on the rental market, executives said. No Expense Spared Although it appears no expense has been spared at Trillium Cave Creek, the company saves costs as a true design/build developer, said Andrea Kalmanovitz, Trillium's Director of Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most . "Unlike other multifamily housing developers, we're not only the owner, we're also the developer, general contractor A general contractor is an organization or individual that contracts with another organization or individual (the owner) for the construction of a building, road or any other execution of work or facility. and community manager," Kalmanovitz said. "We house all of that expertise under one roof and it creates a very cohesive environment for building apartment communities." [ILLUSTRATION OMITTED] Construction costs topped $48 million but market demand and gradual rent increases will offset the costs without pushing out leasers, LaRocca said. A key marketing tool is offering customer service to the hilt hilt n. The handle of a weapon or tool. Idiom: to the hilt To the limit; completely: played the role to the hilt. , company officials said. Paperless leasing, complimentary use of laptops in a high-tech conference room and other electronic frills Frills see frilled. also target the younger leaser. Frequent electronic surveys of would-be residents ensure they get what they want--and stay happy, LaRocca said. At the company's first Great Room community a few miles west, called Trillium Deer Valley Deer Valley is an alpine ski resort in the Wasatch Range in the Park City area of northern Utah. Deer Valley is for skiers only, as it prohibits snowboarding. During the 2002 Winter Olympics Deer Valley hosted the freestyle moguls and aerial, and alpine slalom events. , rents have increased from $1.16 to $1.22 a square foot over 12 months, while annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. turnover went from 70 to 52 percent, she said. Ambitious Expansion Plans Creating highly themed communities is what makes the Great Room communities successful, Dewar said. The company is so confident that it plans to open five more by 2010, including the largest apartment community Phoenix has seen in the past decade. Called Trillium Pinnacle Peak
adj. 1. Having or characterized by a usually flowing asymmetrical shape or outline: freeform sculpture. 2. pool and water playground with water cannons for children are included. The theme will be outdoor food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. . Pets are the theme of the next Great Room community that is opening later this year in Peoria, west of Phoenix. Called Trillium Villas, it will have a pet agility track, fenced areas and plenty of free doggie treats. Fun activities planned in the room include pet therapy, doggie yoga and appearances by pet celebrities from "Animal Planet." Built for Sustainability As it moves forward, Trillium hopes to mimic the success it has experienced at its first Great Room community, Trillium Deer Valley. "The proof is in the pudding," Dewar said. "We've seen lease-ups that are higher than normal with lower turnover than the industry standard. The effectiveness of the offerings shows in our renter demand and renter use of the product." Opened in September 2006, the 360-unit community was 93 percent occupied within a year. Renewal conversions rose 35 to 65 percent during the same time. Trillium Deer Valley also won the NAA's PARAGON Paragon - Mark Sherman. IEEE Software (Nov 1991). award for Best Garder/Townhouse Community, Over 150 units, in 2007. Most impressive is the usage of its Great Room, Dewar said. Trillium, which carefully tracks usage, logs on average more than 3,000 visits a month. "That in itself tells us its something that people like and want," Dewar said. One resident, Cara McLaughlin, said she was "pretty much sold" when she saw the Great Room and pool area. McLaughlin, 25, takes advantage of the convenience the Great Room offers, from fresh lattes to eyebrow waxing in the day spa A day spa is a business establishment which people visit for personal care treatments such as massages and facials. It is similar to a beauty salon in that it is only visited for the duration of the treatment. . She and her fiance use the fitness center so much they are thinking of canceling their memberships at a local gym. [ILLUSTRATION OMITTED] "We saw other apartments for rent in catalogues," said McLaughlin. "The price was maybe a couple hundred less but you didn't get anything [for it]. It sounds like bragging, but its fun to bring your friends and they go, 'Wow, we can't believe this is an apartment community.'" TRILLIUM CAVE CREEK WHERE: Phoenix SIZE: 292 units on 14.6 acres UNIT RENTALS: From $920 to $1,495 COST: $48 million SPECIAL CHALLENGES: Built on a mountain slope that required digging through thick rock. An old mine also had to be removed. Pilates or Yoga? Trillium Cave Creek replaces the traditional club house with a Great Room" that offers five-star resort-like living. Centered around wine, food and entertaining, the 8,000-square-foot, two-level room houses the leasing office and is decorated with custom designed contemporary furniture, art and lighting. Amenities include: * Chef demonstration kitchen and cappuccino cap·puc·ci·no n. pl. cap·puc·ci·nos Espresso coffee mixed or topped with steamed milk or cream. [Italian, bar * Walk-in temperature-controlled wine cellar and wine lounge * A 27-seat movie theater with a commercial popcorn maker * A studio with complimentary yoga and Pilates classes and a kickboxing station * Day spa for massages and facials * Concierge service * Restrooms with televisions embedded in the mirrors [ILLUSTRATION OMITTED] Uncommonly Good WHAT: Trillium Residential's Great Rooms appeal to Generations X and Y residents. WHY: This luxury common room features food, wine and entertaining opportunities, helping to set it apart from competition. RESULT: Trillium is able to sell its community grand lifestyle as an amenity. About Trillium Residential LLC Trillium is one of the largest builders of apartments in the Phoenix area with more than 4,500 units that are active, under construction or are in the pipeline for 2009-2011. Approximately $500 million in projects currently are underway. An integrated real estate company, Trillium combines development, construction, finance and property management disciplines under one roof. [ILLUSTRATION OMITTED] Victoria Harker is a freelance writer in Phoenix. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion