And, the recent study by University of Melbourne's Associate Professor Carolyn Whitzman called Vertical Living Kids says that whilst developers focus on DINKS (double income no kids) buyers and empty nesters they are missing a significant part of the current and future buyer market by not catering for families. Projections of almost 10,000 kids under 14 years living in the City of Melbourne by 2021 mean that families will be living in high rise apartments (like it or not).
Which makes me think that this inevitable demographic change presents as many opportunities as challenges for strata title.
- Will long standing rules about children playing, noise, games, etc, remain appropriate ?
- What new kinds of shared facilities need to be installed in common areas - like playgrounds, wading pools, soft play surfaces, skate parks, etc ?
- How will access and security facilities need to be changed to protect children in apartment buildings ?
- Will long day and after hours child care facilities become standard features in and near apartment developments ?
- How do you make balconies, terraces and rooftops child proof (and visually appealing) ?
- How do you keep those who may prey on children out and/or controlled ?
- How will owners and managers deal with likley conflicts between the living needs and desires of families against those of DINKS, singles and empty nesters already in apartments ?
I suspect that we will initially see attempts to entrench the existing structures and make families change to match them ... but this is not sustainable as the numbers of families in apartments increase, their knowledge and awareness develops and inevitable political and judicial support for children and families arises.
So, expect and prepare for the challenges since those who get it more right sooner will be the winners as strata becomes family friendly.
Francesco ...
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