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The number of new apartments scheduled to hit the market in 2025 remains high as developers deliver projects that have been years in the making.
Owners of older multifamily buildings will need to find ways to remain competitive and attract renters in markets bursting with new supply.
New multifamily developments have been setting themselves apart by offering fiber internet, which is fast and reliable and can maintain its speed against the pressure of multiple connected devices. New buildings have the advantage of installing fiber internet during the construction phase — something that wasn’t an option when many older developments were built.
Many owners of older buildings feel it’s too late to install fiber internet or that the retrofit fiber-to-the-unit overbuild wouldn’t be worth the effort. But, according to Quantum Fiber Senior Account Manager Bryce Ferguson, these owners are incorrect.
“A lot of owners are under the impression that it would be too costly or disruptive to install fiber internet in an existing building, but that’s simply not the case,” Ferguson said. “And the benefits are significant.”
Ferguson walked Bisnow through some of the most common misconceptions surrounding fiber installation in existing developments to set the record straight.
Myth No. 1: Renters Do Not Factor Internet Connection Into Their Housing Decisions
While some owners may think that high-speed internet is still considered a “nice-to-have” amenity, renter demands have changed. The 2023 National Multifamily Housing Council Renter Preferences Survey Report found that 89% of renters listed high-speed internet as a priority.
“For residents, it’s about several different factors, including work from home, gaming and streaming, all of which require a fast internet connection,” Ferguson said. “The rise of streaming and video calls, in particular, have increased the need for increased download and upload speeds.”
Owners of older buildings who don’t install this technology will find themselves competing with buildings that offer it from day one and may lose out on opportunities, he said.
Myth No. 2: There Is Minimal Difference Between Fiber Internet Connection And Cable, DSL, or Cellular
Not all internet connections are equal, and building owners who only offer a fixed wireless system or old wiring infrastructure may find themselves facing frustrated residents who are unable to maintain the connection they need, Ferguson said. Residents trying to rely on their personal cell service may experience limitations.
Fiber optic internet speed of 1 gigabyte per second is 10 to 20 times speedier than 50 to 100 megabits per second of some other technologies, particularly when it comes to upload and download speeds. And there are few concerns about overloading the system due to multiple users being on the same network during peak hours.
Ferguson explained that while fiber internet is transmitted by light through thin glass or plastic fiber-optic cables, wireless connections operate through radio frequencies that can be disrupted by other buildings, inclement weather and several other factors.
Myth No. 3: The Installation Process Will Be Overly Disruptive To Residents
Ferguson said that one of the most common assumptions he hears about fiber-optic installation is that it will be highly disruptive to building residents. On the contrary, he said, since fiber cable is made with durable, flexible materials that do not corrode over time, it can be easily bent around corners and angled into tight spaces without the need for extensive drilling and remodeling.
“From the very beginning, we present our schedule and fiber overbuild plan to owners and get approval before we move forward,” Ferguson said. “We notify residents in advance and let them know if we need to access their units, but it’s all done with very minimal disruption to their day-to-day lives.”
He said that Quantum Fiber engineers and construction teams tailor each installation job to each property to maintain its aesthetic appeal, building color-matched conduits to hide fiber cabling.
“Fiber is easy to conceal, and its flexibility allows us to install it wherever it will be least noticeable,” he said.
Myth No. 4: Installing Fiber Will Be Overly Expensive
The most common misconception about fiber-optic installation in prebuilt properties is that it will be very costly for the owner, Ferguson said. In reality, Quantum Fiber typically covers the capital cost of the installation at no expense to the owners.
Our goal, he said, is to bring fiber and dedicated user WiFi equipment into every home in a property. It is not a “patchwork” service or one where they just bring fiber up to the edge of the property. Bringing the fiber-optic connection into each home helps ensure that everyone gets the same speed and reliability. In the past, this has been too cost-prohibitive for most owners and providers, he said, but now partnering with Quantum Fiber can offer a viable and long-lasting solution.
“I am supporting six retrofit fiber installation projects in progress,” said Ferguson. One owner told him he had looked into fiber installation in the past, but it wasn’t economically feasible for them.
“With our new business model, my client can now provide this highly sought-after amenity to his residents,” he said. “He’s thrilled for the opportunity.”
This article was produced in collaboration between Quantum Fiber Connected Communities and Studio B. Bisnow news staff was not involved in the production of this content.
Studio B is Bisnow’s in-house content and design studio. To learn more about how Studio B can help your team, reach out to studio@bisnow.com.
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