Millennials' Influence on Real Estate

5 Ways Developers Are Responding to Millennials
– Law360

Law360 interviewed Manatt's Michael Polentz, co-chair of the firm's Real Estate and Land Use practice, for an article on the ways that millennials are influencing residential development.

Law360 reports that in a race to court the newest generation of renters, developers are making key building decisions based on the wants and needs of millennials, which have become a powerful commercial real estate force. Industry insiders told the publication that access to retail is increasingly one of the many features millennials are looking for in multifamily properties.

"Developers are looking to put retail on at least the first—and in many instances, the first and second—floors of these towers," said Polentz. "There is no doubt that millennials have driven and created a resurgence of the multifamily explosion in urban centers."

Read the article here

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