Buildings will have dormlike accommodations for families including common area playrooms, family-size units, and on-demand child care via mobile app. Rob Speyer, president and chief executive at Tishman Speyer, tells Realtor.com, “People are choosing to raise families in big cities more than ever. It’s very difficult to find housing that’s tailored to that.” Indeed, Brad Hargreaves, founder and chief executive at Common, modeled the brand, in part, after his own experiences, “When [my first son] was about to be born we started looking for child-care options, and we really struggled to find anything that was affordable and high-quality,” he said.
Common and Tishman Speyer are testing out those offerings at an existing project, Jackson Park in Long Island City, with plans to announce new developments in other locales in the coming months.
The partners see this as an opportunity to help address a shortage of family-size apartments in many major U.S. cities, where developers have overwhelmingly built studios and one-bedrooms targeted to single 20-somethings.