Echo Boomers, “the generic offspring and demographic echo of their Baby Boomer parents,” are the only population segment in this economy providing growth in the apartment market. This webpage summarizes an eight level half acre, patent pending, multifamily urban podium product, which meets the social and economic needs of this group, and clearly pencils using current underwriting criteria.

Echo Boomer Market

    •  72 million Echo Boomers ages 18 – 29
    •  Currently 24% of U.S. population
    •  In five years will be 33% with ages over 18
    •  80% are single
    •  Currently $27,700 national median income
    •  30% above $50K income in many Southern California cities

Echo Boomer DNA

    •  Children of the wealthiest generation
    •  Protected, polished and programmed
    •  Educated and confident with high expectations
    •  Law abiding team players
    •  Highly collaborative but need structure to achieve social
        needs
    •  Image conscious traditionalists
    •  Health conscious and green aware
    •  Desire to live in urban communities

Our Echo Boomer Housing Program

    •  Very high density urban infill product
    •  High end image
    •  Club facilities integrated with Wi-Fi Starbucks-type coffee
        lounge
    •  Small studios with high end finishes that pencil for this
        mostly single group
    •  Stylish mezzanine lofts to enhance project image
    •  LEED Silver project with visible green elements

Project Strategy

    •  Provide highly efficient units, with quality finishes,
        affordable to this population
    •  In downtown locations near restaurants, shops, theaters,
        and public transportation
    •  Affordable to 30% of Echo Boomers
    •  Rent à la carte amenities separately:
            •  Parking (not all have cars)
            •  Rental storage for toys (this population has an
                abundance)
            •  Bike storage
            •  In-unit laundries

The Development Opportunity (Current dollars)

    •  Land at $5,000,000 per acre
    •  Studios rent at $1150
    •  Lofts rent at $1400
    •  Parking rental at $100 per stall
    •  Storage rental average $50 per unit
    •  Assume:
            •  Operating costs at $4031 per unit per year
            •  Lease up in 12 months
    •  Returns with 65/35 loan to cost:
            •  11% return on cost
            •  24% internal rate of return
            •  7% backend cap rate with a 1 year sell after
                stabilization

Comps

    •  Click here for a recent LA Times article on a Santa Monica
        all loft/studio project with 100 units
    •  Click here for a listing of recently completed downtown LA
        projects

Common Facilities at Street Level in Lieu of Retail

    •  Retail hard to rent in mixed use projects
    •  Use of apartment common areas at street level to meet
        mixed used requirement
    •  'Thin' mixed use layout covering parking at street level
        doesn't count against FAR in most cities
    •  Corner Wi-Fi Starbucks-type coffee lounge integrated with
        project club facilities (coffee cafe only retail in project)
    •  Echo Boomers who are 80% single want opportunities to
        connect. Starbuck-type lounge is 'safe'

Project Details

    •  .5 acres (150' x 150'), 348 units/acre
    •  174 units
    •  72 mezzanine lofts on two top floors
    •  96 studios on three floors
    •  Six 1-bedroom
    •  1 to 1 mechanical racked parking
    •  Solar to provide 18% of demand for LEED Silver
    •  126 storage units

Pre-Value Engineered^®

    •  Patent pending, highly efficient Stretched Podium Structure_SM
        with eight levels of Type III wood pushed to code limits of 75'
        from grade
    •  The structure pushes shear wall wood framing to within 1'
        of its 65' structural code limit
    •  1 to 1 parking using SB 1818
    •  FAR increased from 2.5 to 3.5 using SB 1818
    •  Highly efficient racked mechanical parking, 168 cars in
        two up-two down system
    •  174 units with one bath and one kitchen design
    •  All loft and studios, and their plumbing, stack
    •  Highly efficient MEP design
    •  Only 14 very low income units to qualify for SB 1818
        concessions

Project Amenities

    •  Sky Terrace at Roof:
         •  Overlooking city lights (75' high)
         •  Hot tubs
         •  Fire Pit
         •  Barbeque area
         •  Lounges
    •  Two-story fitness center
    •  Quiet courtyards
    •  Street level Starbucks-type Wi-Fi coffee lounge

Click on individual images below to view with magnification               

Click on individual images below to view with magnification

Green Building

    •  Rooftop solar with capacity of 18% of demand
    •  Silver LEED Certification
    •  Visual green components
    •  Priority parking for fuel efficient cars  
    •  Bike racks
    •  Carpool priority parking
    •  Recyclable trash chutes

Mechanical Racked Parking

    •  Eight separate systems
    •  Tenant operated
    •  Less than 60 second car retrieval
    •  Two up-two down system
    •  Accommodates standard cars and trucks
    •  Saves $5000 per car over subterranean parking

Why Studios?

    •  80% of Echo Boomers are single
    •  Fewer square feet to reduce cost needed to pencil
    •  Our survey shows these units rent 62% more quickly with
        a turnover 77% less often or equal to other units
    •  62% of respondents to our national survey stated they would
        rather live alone in a studio than roommate in a larger unit
    •  68% of those that responded that they would rather live
        in a studio said they would be willing to pay $50 to $300/month
        more to do so

Studio Units

    •  Mini one bedroom
    •  Sliding opaque glass door separates sleeping and living areas
    •  9 foot ceilings
    •  Granite countertops
    •  Optional combined washer/dryer in unit

Click on image below to view virtual video tour

Mezzanine Loft Units

    •  The usable space of units twice the size
    •  16 foot ceilings
    •  Mezzanine sleeping area
    •  Granite countertops
    •  Optional combined washer/dryer in unit

Click on image below to view virtual video tour

Click on image below to view with magnification                     

Compact Full Kitchens

    •  Total of 39 cu. ft. of storage area
    •  Combo washer/dryer, load and leave
    •  Pull down drawers
    •  Full size dishwasher, oven, microwave, four-burner cooktop
    •  Fully handicapped compliant

American Architecture

This Echo Boomer Urban Style product has been designed in-house by
award-winning architects to comply with L.A. building and zoning
codes, and is one of several patent pending American designs which
use American’s Stretched Wrap Structure_SM.

American designs and builds a full range of multifamily projects
including: mixed use, live/work, luxury/marketrate/affordable
apartments, luxury/market rate/affordable condominiums,
affordable family/senior housing, single room occupancy,
assisted living and student housing.

American will provide a complimentary preliminary
design scheme at the feasibility stage with
guaranteed construction pricing.

See For Yourself!

Come tour our fully furnished product prototype. We can discuss the cost of alternatives before the first line is drawn, significantly reducing your risk.

Coming Next!
    •  Sky terrace rooftop system and patent pending
      self-cleaning sky terrace dog parks 

For two decades American has been passionate about delivering the highest quality multifamily neighborhoods for the lowest cost.
We provide turn-key design/build services, creating multifamily neighborhoods, ranging from 1 million to 100 million dollars

americanmultifamily.com

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The drawings, designs and concepts depicted in this webpage are the intellectual property of American Multifamily, Inc. and have been copyright protected through registration with the United States Copyright Office. This webpage is not to be disclosed, disseminated, distributed or copied and the contents, designs, and ideas represented in this webpage are not to be used for any purpose without the written consent of American Multifamily, Inc.

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