Developers have incorporated “wellness” amenities and designs into more and more projects over the past several years.
Some 740 “wellness” residential projects were in development or built worldwide at the beginning of 2018 and that number has grown to around 2,300, according to a study by the Global Wellness Institute first reported by CEPro.
GWI defines “wellness real estate” as projects that incorporate intentional wellness elements into design, amenities, programming, materials, or otherwise. GWI said the pandemic helped to power growth in the sector.
“The pandemic has driven the idea of ‘building for human health’ into the mainstream consumer consciousness, and the recent market growth far exceeded our predictions, as well as general economic growth trends,” said GWI senior research fellow Ophelia Yeung.
Wellness projects have attracted investment from some high-profile individuals and companies in the past. Delos, a company that offers wellness solutions for large-scale residential projects and homes, has partnered with Brookfield, Lendlease and others on wellness-centric projects.
Its first project, a condominium development in the East Village, included vitamin C-infused shower systems, suped-up HVAC systems, and UV lighting. Deepak Chopra and Leonardo DiCaprio both bought units there.[CEPro] — Dennis Lynch