March 7, 2011

All luxury apartment buildings are not created equal — and it’s not just tenants who may not get what they want. The owners miss out, too.

Bottom Line: Invest internally with professionals who guide the collaborative effort with architects and designers from within – Roseland’s formula for success.

At Roseland Property Company, the developer’s design strategy creates the luxurious homes that the renters-by-choice market loves. Designed by Manhattan’s noted SCLE Architects, Monaco’s two-tower structure features just 7 residences per floor, offering a uniquely intimate and amenity-rich environment.

“There is no room for error in this market, as today’s people are renting by choice rather than necessity,” says Goldberg. “Renters at Monaco can afford to buy a million dollar home, but they choose to rent for a variety of reasons. As such, they demand the same quality in design and finishes as they would expect to find in luxury homes for purchase. The onus is on us to ensure that the renters’ needs are met.”

Regarding the developers’ perspective, Goldberg adds, “Bad design can easily be the same as or more expensive than good design, and construction of a building with a poorly conceived unit matrix is as costly as one with an insightful concept.”

Roseland’s strategic formula combines both quality and appropriate product design with efficiencies in building design and coordination between interior design and the mechanical and structural building systems. Roseland’s newest luxury development, Monaco – both the tallest residential rental building in New Jersey and the only brand new luxury rental on the Gold Coast, benefitted from this strategy.

At the outset of a project, the team carves out the correct unit array from the allowable building area to maximize revenue and determines the required styling for which the contemporary market will pay a premium. Once the roadmap is complete, a team of prominent consultants are brought in to work in unison throughout construction.

In the case of Monaco, SLCE Architects and Peter McGinley were responsible for architecture and interior design, respectively. They worked hand in hand with the design team to ensure the structural and mechanical systems were suitable for the architectural design – i.e. Monaco was able to balance magnificent ceiling heights in the lobby and retail spaces, while preserving adequate ceiling heights for the individual units.

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