The appeal of a downtown loft will always draw interest. The difference many tenants as well as builders are seeing today is a trend toward “smaller is better.” Investors and city planners may still be on the bench about making a decision to get into this game. However, there is a growing group of interested parties that might make it easy for those balking to hit the ground running: The Millennials.

We are Witnessing the Change

Take Vancouver, for instance. A city that has huge appeal has become a place almost exclusively for the rich with the costs and regulations designed to preserve the sanctity of the single family home. Despite the energy and activity drawing a younger crowd and inspiring businesses to cater for them, we are on the cusp of a sea change when it comes to housing in the big cities.

While the youth follow the social cues and gather together for the interaction and “being there,” they have less desire to be at home. They would rather be on the go. They would rather a place to hang their hat that is affordable allowing them more freedom.

Where space is at a premium, surprising success is seen in the concept of building smaller, more compact units in which to dwell. This has already been achieved with stacked townhouses. Toronto has already established stacked houses as a standard in their city. When you can’t spread out, the logical choice is to go up.

An Active Life Needs to be On the Go

Another option apparently showing great promise is the micro-loft. These are units that comprise as few as 300-478 square feet of living space in which the accommodations are purposefully made more compact. Instead of a bed on the floor, it flaps down from inside the wall. The population desiring these smaller flats don’t need all the space when they are not even home that much. Their business is conducted on a handheld device or a laptop eliminating the need to spread out on a desk.

It May Need Push Coming to Shove with City Planners

They younger crowd are more responsive to social media that answers to an active life in the bustling cities. They want to live where they work and socialize but for a rent they can afford, say in the range of $1,000. They are less pressured by how big the unit is, which goes against conventional thinking desiring the most space for the lowest price.

While this has been achieved with positive results for little advertisement already in Vancouver, there are limits to how much city planners are willing to allow condos to shrink. This presents the single barrier to the concept of micro-lofts in much of Vancouver that would present a wealth of opportunities. Investors have to consider the length of time these fast-pacers will occupy the smaller units. If the trend remains popular, this should not present a problem of selling them to the next anxious buyer.

Builders Ready to Meet the Need

Whether it is the idea of splitting an existing single family dwelling into two, laneway housing, stacked townhouses or micro-lofts, Alair Homes North Vancouver takes the position of understanding the changing needs of clients. From project design and planning to execution and all that takes place in between, their commitment is to 100 percent transparent construction management. With the shifting market, it has to be this way to go with the changing trends. This Client Control™ approach, while unique to the market, is just what is needed to see the changes that are taking place help to motivate city planners to make the leap.