Posted Dec 12, 2014
Old Hotels, New Micro-Apartments
Hotel VQ, located in downtown Denver, and the Latham Hotel in Georgetown, Washington, are both being converted into micro-apartments. But what are micro-apartments, you ask? Well, if you thought your studio apartment was small, you should check out these living spaces.
Micro-apartments are typically about 300 square feet, which is about half the size of a standard one-bedroom apartment (hence the name “micro”). To put it into perspective, it’s like living in a hotel room. Although, I imagine with the right interior design tricks, you could easily turn this small space into a very cozy place to live.
The Demand for Apartments
So why are these micro-apartments being built? Here’s the simple answer: demand. The amount of developable land in urban areas is shrinking, which is why instead of being demolished, hotels are simply being repurposed.
Denver and Georgetown aren’t the only two cities building micro-apartments for residents looking for a home. Chicago is wanting to jump into the micro-living market as well. Cedar Street Cos, a holding company, is planning to build micro-apartments in the historic Gold Coast that are between 350 and 450 square feet. The building will include various amenities, including a garden complete with barbecues and a fitness center.
As you already know, 300 square feet is awfully tiny, even for millennials. This is why the planning officials of the Latham Hotel are offering perks that come with the micro-apartments, including bike and car share memberships. Not having to find a parking spot each day on the crowded streets of Georgetown could be a major upside for many potential tenants.
This new apartment complex will also have other amenities throughout the building, including community living rooms, laundry facilities, and kitchens. A tourist, Heidi Whitehouse, said exactly what I was thinking, that this is essentially a dorm room for adults.
You can hang out in your tiny room, but when you’re looking for a bigger space with some social interaction, head to any of the communal rooms. This could be great for millennials moving to new cities, as it’s an easy way to meet new people. When you’re in a normal apartment, there’s really nowhere to “hang out” with other residents, besides the building lobby.
The location of the Hotel VQ might be a major draw for some potential residents, as it’s located near the Denver Bronco’s stadium. This hotel sold for $9 million and will be transformed into 170 different micro-apartments.