Yardi client Avison Young recently released “Five generations: Is the need for new workplace structures myth or reality?” The white paper explores the perceived need to overhaul workplace layouts in order to accommodate multi-generational employees. Generations have replaced one another in the workplace since, well, the dawn of the workplace. Yet the introduction of Millennials has employers grasping for new ways to catch and keep the newcomers’ attention without isolating older employees. According to the U.S. Census Bureau, Millennials are the largest generation. Ever. There are currently 83.1 million young adults in the U.S. alone, representing more than one quarter of the nation’s population. The group is a dominate force to be reckoned with. Employers are still learning how to reckon. The first challenge: Millennials are hard to keep on board. The report suggest that Millennial attrition costs are nearly twice that of older workers, “For an organization of 1,000 employees, the additional cost of replacing Millennials could average as much as $300,000 annually.” Stereotypes would suggest that this is because Millennials lack loyalty. Any new carrot could whisk them away to another company. The report reveals the error of this assumption. Jennifer Deal, research scientist with the Center for Creative Leadership, discovered level within the company correlates to loyalty rather than age. The next assumption is that the workplace itself is wrong for Millennials, hence the tendency for employers to create “hip” spaces that should feel more welcoming to Millennials. Organizations are creating lines in the budget for arcades, cafes, sleeping pods, slides,—the list continues. This, too, is a potentially erroneous strategy. How does one measure the ROI of a hoverboard? “Our research shows that when you hold the stereotypes up to the light, they don’t cast much of a shadow,” explains Deal....

In the traditional American Dream, renting was a transitional phase before upgrading to home ownership. That trend has all but vanished as mature adults rediscover the joys of renting. Joint Center for Housing Studies of Harvard University estimates that 2.2 million additional Baby Boomers will enter the rental market within the next decade, soon accounting for more than half of renter household growth. As more seniors turn to renting, many multifamily communities are exploring aging in place features that can appeal to seniors as well as younger generations. The National Association of Home Builders’ What Home Buyers Really Want report has identified key accessibility features that residents crave: Master suite on main No one wants to haul themselves up and down stairs for a shower, especially not as they get older. Aging in pace rentals require a full bath on the main, ideally with a separate restroom for guests. While this is easy for most apartments, condo and townhome owners may face hurdles when marketing to seniors. Wide passageways Doorways that are at least 3’ wide and hallways that are at least 4’ wide make it easy for maturing adults to maneuver, especially if assisted by a wheelchair. Barrier-free entryways Seniors avoid rentals with stairs anywhere between the parking area and the unit’s entrance, preferring communities that provide ramps and elevator access. Consistent flooring is also a coveted factor. Seams between different surfaces, such as carpet and hardwoods, could cause residents to stumble. Accessibility features Small touches make any house a home. For adults who plan to age in place, a home that is customized with accessibility features makes daily tasks less daunting.  Low cabinets and countertops, support structures in bathrooms, and walk-in showers aid users who may have limited mobility. Lighting As our vision declines, traditional...