SkyLofts MarketSquare | Loft Buyers Benefit From Developer’s Experience

ROYAL OAK, MI – “When you imagine creating a loft, you think of a large open space with dividers,” says Carrie Cohen, new homes manager at SkyLofts MarketSquare.  “However, these new loft developments are more challenging than one might think. It takes experience to get it right.  From proper room proportions, island placement, size and location of windows, and all of the amenities that say ‘luxury’.  Buyers at MarketSquare definitely benefit from our many years of experience.”

MarketSquare developer Morningside Group has created nine luxury condominium projects in Chicago and metro Detroit, including Liberty Lofts in Ann Arbor and the pioneering SkyLofts Royal Oak, completed in 2003. All are located in inner-ring suburbs, often transit-oriented, most with traditional downtowns.

Over 13 years, Morningside has come to understand the demographic groups who want to live in these environments, typically empty nesters, young professionals and first-time homeowners.  The Morningside team has talked with thousands of prospective buyers, fine-tuning their floor plans and amenity packages most desired by that clientele.

For example, after watching buyers at most of its developments consistently choose islands, Morningside made them a standard feature at MarketSquare, not an option.

“People buying lofts love islands.  They use it for a variety of things – an impromptu office, party buffet, food prep area – the various uses are endless.  However, they still love a separate dining space.  At MarketSquare they can have both.” Cohen said.

They also discovered that empty nesters may be downsizing, but they don’t want to forfeit a dining space, and young buyers with active lifestyles also like to entertain. Most MarketSquare lofts therefore have space for a table that seats six or more.

Morningside chose a loft-style plan for SkyLofts Royal Oak, based on input from civic leaders and their demographic, cultural and competitive research. The open floor plans, high ceilings, exposed systems and balconies were right on target, and the 70 residences sold quickly.  Morningside used buyer preferences and feedback from SkyLofts Royal Oak to give MarketSquare buyers even more of what they wanted:

•    More linen storage space, especially in the bathroom
•    Outdoor living space for every residence.  “Even people who want an easy-care, lock-and-leave home still want to sit outside and have a glass of wine after work,” Cohen said.
•    An inset in the wall over fireplaces sized to accommodate a flat screen TV.  (Eighty percent of MarketSquare buyers own a LCD or plasma TV)
•    Secure, indoor parking that is fully enclosed and heated
•    Cable TV outlets on both sides of the great room and bedroom, to accommodate a variety of furniture arrangements
•    Even one bedroom lofts have a half bath for visitors.  “Homeowners don’t want their guests traipsing through their bedrooms,” Cohen said.

“Our design standards and luxurious amenities allow anyone to call our lofts their home,” Cohen said.

SkyLofts MarketSquare is located at 101 Curry Avenue and 11 Mile Road, two blocks east of Main Street in downtown Royal Oak.  The information center is open Thursday through Monday from 10 a.m. to 5 p.m.  One- and two- bedroom loft condominiums are available; pricing is from the $220s.  All available lofts are completed and  ready for immediate move in.

Founded in 1993, Morningside Group is a real estate development firm that specializes in creating premier mixed-use and multi-family developments in urban locations throughout the Midwest.  Long recognized as a leader in the design and construction of highly acclaimed buildings, Morningside Group has built an enviable track record of successful public-private partnerships.

Morningside’s incomparable work ensures that each new development will join a growing portfolio of prized buildings which includes, in Michigan, SkyLofts Royal Oak, and Liberty Lofts in Ann Arbor and, in Illinois, Arbor Court and Prairie Town Center in Oak Lawn, Crescent Court and Museum Square in Elmhurst, Morningside Square in Downers Grove, The Glen Astor in Glen Ellyn and buildings in Evanston and Skokie.

Click here to visit the SkyLofts MarketSquare website!

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