Iris&B fits into the micro housing trend for Boulder

By December 18, 2016Blog

Living in Boulder is pretty spectacular. The quality of life, the mountains, the University, the restaurants, the entrepreneurs, the farmers’ markets, the yogis. A little something for everyone!

Boulder is particularly popular with millennials. One trend that is increasingly popular with this population is micro-housing and an “on-demand” lifestyle.

Here’s an interesting article in Curbed magazine about that trend.

And, according to a recent study by the Urban Land Institute outlined in the blog Industry Tap,

Whether this turns out to be a lasting phenomenon or a passing fad, micro units have renewed the focus on efficient layouts and innovative design solutions. Many of these smaller units are designed and configured to feel larger to potential renters than older conventional units by virtue of higher ceiling heights, larger windows, built-in storage, and in some cases, flexible furniture systems.

The evidence from the market indicates that smaller units tend to outperform conventional units; they tend to have higher occupancy and achieve significant rent premiums.

The Iris&B development project (at 3303 Broadway) offers a mix of 50 rental units, including 10 studios that qualify as micro-housing. Affordable, “walkable,” urban, and perfect for young professionals.

A major draw of the micro-housing trend is location. Especially for millennials on a budget, the proximity to a city’s cultural hubs makes the sacrifice of space worthwhile. Iris&B is a “15-minute” neighborhood. Amenities (coffee houses, bike shops, shopping areas, markets), bike trails, and transportation are all within a short walk from the property. This makes it possible for future residents to use a car much less frequently (although Iris&B has ample parking).

(The project also plans for 24 one-bedrooms, 10 two-bedrooms, and six three-bedroom townhouses.)

And, because Iris&B is designed to be affordable to Boulder’s middle-income workforce, 88% of the new units will be affordable to people making 80% of the area median income. Studio and one-bedroom rents ranging from $1,250 – $1,450.

City Council can still move the project forward. To do this, they need to hear that there is community support.

Please, send an email to council@bouldercolorado.gov and include:

  • Why you support this project:
  • Ask them to call-up the site review on January 3rd, 2017 and,
  • Ask them to approve the rezoning/comprehensive plan change.

While you are at it, send an email to openforum@dailycamera.com (300 words max.).

 

Leave a Reply