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Thursday, Nov. 26, 2020 | 3 p.m.
As real estate offerings evolve and change, so does the vocabulary to describe them. “Adding new descriptors to the condominium lexicon (there are lofts, townhomes, flats and more), we have additional home types to look for, namely penterraces and live/work studios,” said Uri Vaknin, partner at KRE Capital, which owns the DK Las Vegas portfolio of condos. “These spaces represent how people want to live today, and they’re making for beautiful, contemporary homes.”
Penterraces
Combine the size and amenities of a penthouse with the benefits of a terrace, and you get a penterrace. “Penterraces are popping up around the country. We see people coming from single family homes that want outdoor areas but don’t want an entire yard to take care of,” Vaknin said. “Penterraces afford outdoor space with a fraction of the maintenance. We upgrade the finish level of these spaces to larger, two-story condos that feel like a penthouse on the terrace level.” A penterrace on the pool level offers additional benefits, as residents are able to exit their private terrace straight on to the pool deck.
Penterraces are great for people with families and those who like gardening and spending time outside. In addition, they can be a special bonus for those who enjoy hosting. It is an ideal location for outdoor dining and intimate parties, allowing your guests to mingle on an open-air terrace. With plenty of room for a full dining set, whether for a classy soiree or family potluck, these unique, hybrid spaces offer a range of opportunities.
Live/work spaces
With an increased number of individuals working from home, live/work studios are in high demand — from small home office areas to entire studios for those who need more space. “We’ve introduced The Studio Collection–Creative Two-Story Live/Work Spaces that feature a work studio on the bottom floor and the loft-style condo upstairs,” Vaknin said. These spaces are optimal for artists, architects, designers, attorneys, shop owners and anyone who benefits from having a studio to create in. “Being able to work downstairs and live upstairs can be a game changer—you no longer have to travel across town to your workplace, everything is centralized and convenient,” Vaknin said.
