Millennials Lead The Charge For More Housing

It is no surprise that Silicon Valley is booming. The tech industry is only getting more and more lucrative and large, drawing an increasing number of people—particularly Millennials—to Silicon Valley, where tech giants like Apple and Google are offering high-paying jobs with full benefits that stretch beyond the basic healthcare and retirement that previous generations grew to expect.

With this influx of people has come a need for more housing, which has caused another Silicon Valley boom- in construction. Millennials are calling for multi-family homes that are as forward-thinking as they are, and Silicon Valley builders are responding in kind. In order to court the Millennials moving to the area, they are prioritizing connectivity in the new buildings and fitting them with all of the latest amenities, from wellness centers to dog parks.

These new apartment complexes and condos are also putting an emphasis on communal space. Generally, new units are small but that suits most Millennials just fine. Instead of spending their time inside of their homes, they are taking advantage of plasma screens set up in communal areas where people can gather to watch sporting events, elections, and award shows.

As these buildings go up, areas that were previously considered sleepy suburbs are becoming bustling downtowns, boosting retail construction. The people working in the tech sector are looking for a place to live that will put them close to work and close to play, revitalizing neighborhoods and creating a perfect situation for restaurants, shops, and venues to see success.

Are you thinking of getting in on this burgeoning market? For all of your commercial construction needs, contact Parkwest General Contractors. We are here to ensure your project sees the success it deserves, and our expert guidance can help you capitalize on the market growth. Call us today to get your project off the ground on budget and on schedule.

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