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Updated over 2 years ago on . Most recent reply

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Peter Tverdov
#5 Market Trends & Data Contributor
  • Real Estate Broker
  • New Brunswick, NJ
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If you were building a new apartment complex...

Peter Tverdov
#5 Market Trends & Data Contributor
  • Real Estate Broker
  • New Brunswick, NJ
Posted

I am building a new 3 story stick build apartment complex here in NJ. Very small, 8 units plus commercial and I am trying to go over details of what will make the building energy efficient in the future and cost efficient when we are building. The target market is work force so it's not a luxury building and the median income in the city is on the lower end for the state to give you an idea of the market.

That being said, I have everything separately metered including water. Tenants will pay all utilities. Security cameras outside and in common areas. Basement with storage rooms (1 for each apartment that would be extra) Laundry room. Amazon locker area.

I am thinking for appliances to possibly do electric dryers, electric stoves and electric water heaters. I think it reduces the need for re-lighting pilot lights, possibly reduces insurance costs because it's less gas being used and is a little cheaper upfront (although electric stoves are more expensive).  PTAC units as well although no idea what brand. They're pushing electric everything right now so it's just a thought I have had. 

Just curious what you guys recommend for window brands, flooring...all the finishes that will obviously add up in addition to what I mentioned about mechanicals. 

This will be my first apartment building that I own and develop (have done lots of 1-4 family stuff) so I am excited. 

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