Renderings as a differentiation tool
New development may not be as robust as it was before the cost of crude plummeted, but Houston is still solid. Multifamily is doing comparably well, perhaps playing catch-up with the influx of new office space.
Panelists at the recent Houston Apartment Association State of the Market event predict multifamily occupancy will dip slightly to 89.3% and rent growth will be 2.5-3.5%, with strongest growth in Class-C/D properties. With competition increasing, developers, architects and owners are looking for the best ways to communicate their vision. Two tools PCG has been providing clients more often are aerial photography with rendering overlays and isometric views. Aerial site photography has long been used to help illustrate site access and surrounding amenities. Inserting 3D renderings of planned new or expanded buildings into the photography gives investors, owners and users an even better sense of how the development will look and feel within the site. How easy is it to get into the development? Will it be a short walk to park? How close are the best places for lunch? How much green space will surround the building? Aerial site photography with rendering overlays allows people to more easily see themselves on the ground amid the new surroundings. Isometric renderings help put occupants inside the building. This bird’s eye view is a 3D look at a floor plan and supporting exterior spaces, with the roof removed and walls extended to full height. Multifamily developers typically show furniture within all rooms of each unit, so lenders and renters can see the usable square footage, as well as see the varying sizes and layouts of available units. We work closely with our clients to first understand the business goals, then we suggest different rendering options to best suit the need.