This past year was one of immense growth and learning, which is why for this month’s blog, we wanted to highlight our top 4 “aha” moments from our 2021 blogs and how we are translating those moments into 2022.
Last year, we installed over 50 projects in our respective verticals – senior living, multifamily, and hospitality. Needless to say, there were numerous hurdles we had to jump and skills we had to finesse to successfully complete these projects on time and within budget. This past year, we learned to master renovations, we championed senior-specific furniture, we furthered our knowledge around tech in the multifamily space, and we strengthened our belief in location-centric design in hospitality.
Aha Moment #1 – The Rise of Renovations: It’s Time For a Change!
“To ensure our success from the start, our teams form a calculated plan that clearly maps out how we’ll make the building look and feel cohesive AFTER the renovation.”
With the cost of building through the roof and the disruption of global supply chains this past year, new-build projects became increasingly more costly for developers. As our clients navigated the rising costs, Banko saw a rise in requests to renovate and refresh their existing, well-worn communities rather than building something new in this expensive market.
For us, 2021 reinforced the fact that renovations are drastically different than new-build projects. They are also often more challenging with tighter budgets and shorter timelines. We continued to find that creating a calculated plan was key to a successful project. In 2022, we will continue to use our thorough practice of taking inventory of existing FF&E, discussing the owner’s vision, and forming the budget for the project. With our full-service in-house procurement team that has significant buying power and two Banko-owned warehouses, we will continue to be able to control costs and finish within the timeline.
For the full article, click here.
Aha Blog Moment #2 – Let’s Talk About Senior Living Furniture
“Furniture should be thoughtfully specified so that it works not only for the aging body but also for those in and outside of senior living communities. That’s why we’ve always built custom furniture for the communities we design.”
From its founding, Banko Design has taken pride in specializing in senior living design. We know that when choosing furniture for senior living communities, our ultimate goal is to provide a comfortable, practical, and beautiful space. To do this, we always consider the pitch of the seating options, the height of the furniture, the cleanability and durability and so much more.
Our experience in building custom furniture for the communities we have designed has shown us that not everyone has the ability to create pieces that are senior-friendly, practical AND beautiful. We knew there had to be a better solution, so we created one. This led to our collaboration with renowned furniture manufacturer, Fairfield Chair, to build a custom furniture line that is tailored to seniors’ unique needs. Our furniture line, launching Spring 2022, includes all senior-friendly design details along with classic yet beautiful designs that can be universally used from commercial to residential projects. We cannot wait to see our furniture line debuted in the communities we design!
For the full article, click here.
Aha Blog Moment #3 – Multifamily Amenities and Services: The Contactless Age
“Today’s multifamily residents are savvy shoppers who gravitate toward a multifamily development largely due to the convenient amenities throughout the building.”
In 2021, technology continued to play an important role in the multifamily industry. This was seen in the increasing number of fully contactless communities due to limited interaction between residents and community staff. But, is this what residents really want? We often found that face to face interaction with community staff creates a sense of community for residents, which in turn, increases retention rates.
A question we are often asked is, “what are the latest and greatest trends in multifamily?” One trend we have seen an increase in popularity is the demand for tech-focused amenities and services. The challenge of providing these amenities in 2022 is going to be specifying technology features that will not become outdated too quickly. A few common amenities we believe will continue to be sought after are communal work areas, dog walking services, health and wellness centers, and rooftop bars and pools.
For the full article, click here.
Aha Blog Moment #4 – Hospitality in Secondary Markets
“Unique experiences and one-of-a-kind discovery moments in hospitality design are more important than ever before.”
In the past few years, there has been an increase of residential booms in secondary markets or mid-size cities. Using this data, hotel developers and brands are deciding where to open their next property. The theory is that by tracking the rising home prices in these areas, you’ll find that it’s often an accurate indicator of where demand will follow for travel destinations. From a design perspective, Banko Design has always looked at residential trends when beginning a new project. Even though our projects have a commercial focus, our end user still wants their stay to feel comfortable like a home, authentic to their destination, and rooted in the fabric of the city.
We are confident there will continue to be a demand for boutique hospitality properties. With that, we will continue doing what we do best – helping our clients to tell the story of their property. We know that guests love to feel like they’ve experienced something special and exclusive. A well-designed boutique hotel in these secondary markets can do just that.
For the full article, click here.
We are proud of everything we have accomplished in 2021 and all the opportunities that came our way. We learned a lot, and we are excited to see what the next year brings. Here’s to more wins and lessons learned in 2022!
Interested in learning more about how we can help? Reach out to Steph or Brittany, our Business Development team, at steph@bankodesign.com and brittany@bankodesign.com.
