As a residential partner, Igor Krivoruchko has worked in the real estate industry for two decades where he’s overseen projects focused on modern apartment communities and multi-family properties.
Igor Krivoruchko has worked in real estate since 1999, but he took a more focused approach in 2004 when he centered his career on the development of multi-family properties (such as condominiums and apartments). Thanks to the industry’s strong growth, he found success building Class-A luxury apartment communities across the United States.
As the population rises, more individuals and families look to apartments and other multi-family properties that come with many enticing amenities. Igor Krivoruchko explains how the recent growth in technology, such as the Internet of Things (IoT), is helping to fuel this trend.
“When people buy houses, they take on a world of responsibilities and expenses that used to be attractive in the past, but seem more like unreasonable chores now,” says Igor Krivoruchko. “Today, multi-family complexes offer solutions with their own built-in amenities and new tech features that streamline home-living processes.”
According to a recent study, multi-family developers are on pace for the second-highest annual completions count, with over a quarter-million units expected this year.1 Developers like Igor Krivoruchko look to the tech industry to gain an understanding of what renters and buyers need now and what will likely be trending in the near future.
Tech advances prove to optimize time spent on various tasks such as washing dishes (newer, more capable dishwashers in units) and offer unique benefits like the ability to charge phones and devices in any room (some complexes come with standard USB outlets). In addition, smart home technology connects people with products like refrigerators, ovens, and air conditioning units right from their smartphones.
“Developers have seen how the growth in technology and consumer products sways buyer’s purchases,” says Igor Krivoruchko. “People crave technology and streamlining, and that’s exactly what we want to give them in modern complexes.”
Well-built complexes will likely feature amenities like pet care, lawn care, and cleaning services, but they will also utilize technology to optimize other aspects of residents’ lives. This may mean faster entry to complex gates, unique fitness programming at on-site gyms, car charging stations, and smartphone applications.
Tech advances in apartments or condos are especially useful for remote workers, who are a growing trend in professional establishments across the country. Increased accessibility of services at home–such as high-speed internet connections and savvy business or conference rooms on-site–draws in many working professionals. Igor Krivoruchko believes the communities hoping to succeed must focus on convenience in more ways than one, giving residents upgrades in their professional and personal day-to-day lives through technology.
“There’s a lot of competition for land and rights to build new multi-family communities,” says Igor Krivoruchko, “but the winners will be the ones who are tech-centric, since they have the most to offer residents.”