________MAIN 2ARIZONA 13


“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ 

FranciscoConstruction & Dev March 30, 2017 Polaris Pacific Alec Berkman, Bisnow National

Millennials are emerging as homebuyers, driven by their increasing age, wealth and high rents. Understanding how their preferences differ from other generations’ is integral to capitalizing on this shift with properties designed to meet their needs. Polaris Pacific vice president and project director Matt Felt talked about how owners, developers and marketers are appealing to Millennial homebuyers.

Bisnow: To what do you attribute the appearance of a new wave of Millennial buyers? How do this younger group’s housing preferences differ and how are they influencing development? Felt: In the San Francisco Bay Area markets we are just seeing the emergence of the leading edge of Millennials — people between 28 and 35 — wishing to purchase. They’re primarily driven by rising rents, which make buying financially prudent. They mainly show interest in the high-density urban housing on the lower-cost or entry-level end of the spectrum. They don’t demonstrate the same desire to have parking; instead, proximity to public transit and job areas are a huge factor. They also display an affinity for community — a neighborhood feel — that’s fostered in an urban environment that still offers the proximity to services they demand.

Bisnow: How is this Millennial emphasis on community influencing design? Felt: Developers are taking note of this preference and are placemaking, integrating retail, restaurants and green space into mixed-use projects. They’re also delivering more transit-oriented developments. The assets with a prime location and a good amenity set are unsurprisingly performing the strongest. With Millennials looking at entry-level price points, developers are providing smaller homes and more amenity space. Outdoor areas are a primary focus because of the climate. We also hear prospective buyers expressing a wish for co-working space, state-of-the-art fitness centers and areas to host guests, like a private dining room that can accommodate a dinner party.

Bisnow: Why is Millennial demand for townhomes so robust? Felt: This is mainly due to land constraints in desirable core locations. Building stand-alone single-family homes isn’t cost-effective anymore, even in the suburbs. Townhomes offer a great alternative — they’re sort of an entry-level compromise between the traditional home and apartment. Single-family home resale appreciation has had double-digit growth post-recession, and recently launched townhome communities in the valley have sold quickly.

Bisnow: Although still too young to be purchasing, Generation Z will likely have a different set of criteria and demands for housing. What do you anticipate these will be, and how can marketers and developers prepare? Felt: While we have some time before Generation Z, we do have to prepare nonetheless by studying the discrepancy in purchasing habits between generations, and making sure the physical spaces they’ll occupy manifest these. One trend that we see is that, while Millennials do research and purchase things online, Generation Z actually seeks out face-to-face interaction. They’ll talk to experts in person, and they’ll go to brick-and-mortar stores to get advice before making a purchasing decision. Even though they’re digital natives and ultra tech-savvy, they crave the human connection.

Bisnow: How will ride-sharing services and the projected proliferation of autonomous vehicles alter urban development? Felt: Reducing the number of single occupancy commuters goes a long way toward alleviating congestion. Whether driverless cars will be adopted by commuters in suburban markets remains to be seen. In urban areas, most projects now do not have 1:1 parking because of enhanced public transit. Less parking on-site means more free space for walkways, recreational space and parks. To learn more about this Bisnow content sponsor, click here.

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  • Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a   CCIM: 
  • The average age of the population is 34 years old.
  • The health cost index score in this area is 102.1. (100 = national average)
  • Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).


Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950


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Walter Unger CCIM –   – 1-520-975-5207  –

2016 Official Arizona Visitors Guide

Visit Arizona

Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950



Timeline of Phoenix, Arizona history,_Arizona_history


Phoenix, Arizona,_Arizona



Facts of Arizona – year 1848 to 2013

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 Walter Unger CCIM, CCSS, CCLS

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Walter Unger CCIM

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Kasten Long Commercial Group

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Phoenix , AZ 85018

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