As a recent CBRE white paper points out, the 2025 real estate market — both commercial and residential — looks poised for growth. If you want to take advantage of this uptick, you need something to set your firm apart from your competitors. In today’s competitive environment, the best way to corner the real estate market is with EV charging infrastructure.
Like real estate, EV ownership is on the upswing. Installing EV charging infrastructure in your new developments, whether commercial, multi-family, or single-family residential, will increase their attractiveness.
Even if a buyer doesn’t own an EV, having a charging station on the property will likely increase its value for future buyers. As an Investopedia article states, buying property is “one of the best long-term investments you can make.” Making your properties the most attractive — and future-proof — ones on the block can help you gain the edge over your competitors.
Here’s how you can leverage EV charging infrastructure to make your company the most in-demand developer in your area.
Consider Making Residential Garages and Parking Spots At Least EV-Capable
With EVs rising in popularity, it makes sense to have the infrastructure in place to install EV chargers in new properties you develop. Even if a prospective residential homebuyer doesn’t drive an EV, setting up the electrical panel and wiring for an easy EV charger install will make the home more attractive to future buyers — thus, a better investment.
For multi-family developments, retail centers, office buildings, and other commercial real estate, having the capability to install EV chargers is a must-have. With tenants moving in and out of these properties, many of them will likely demand EV charging as an amenity for either themselves (in residential properties) or their customers (for commercial properties). Having the infrastructure already on-site makes it easy to add EV chargers later.
EV-ready spots are an even better bet. Having outlets capable of handling the electrical load that Level 2 chargers need to function makes your properties even more desirable.
But if your residential build is a high-end development, consider going a step beyond readiness to install actual chargers. Younger, affluent buyers — also the target market for EVs — will appreciate your turnkey approach. With their high-stress jobs and juggling a healthy work-life balance, having an EV charger already installed on the property will simplify their lives.
Build Commercial Garages with Future Needs In Mind
Many of the nation’s transit companies, school districts, and logistics firms now realize the need to transition at least part of their fleets to electric vehicles. With new studies proving health risks that drivers and passengers face when riding in diesel vehicles, “there will be a race to develop properties into charging hubs” for medium- and heavy-duty EVs, as a Terawatt post observes.
With the added advantages of earning passive revenue from using EV batteries to feed energy back into the grid and lower maintenance and fuel costs, more commercial fleet managers will likely need to switch to electric vehicles. Buildings that have heavy-duty charging infrastructure already in place will be an advantage when fleet managers make the switch.
If your real estate development company already has a reputation for installing quality EV charging infrastructure in its commercial renovations and new builds, you’ll be more likely to get the nod from fleet owners who need to upgrade their garages to accommodate their new electric fleet vehicles.
Encourage Commercial Building Owners to Install EV Chargers
Suppose a prospective client comes into your office and asks for a proposal to construct a new office building, restaurant, hotel, or even a local airport. Go the extra mile and point out how installing EV chargers in the parking lot can benefit the client’s business and those who occupy the new building.
EV-driving patrons of hotels, restaurants, and airports will appreciate having a car all charged up and ready to go when they are, saving them an extra 30-minute stop at another charging station.
Likewise, office employees who drive EVs will be more likely to recommend their employer to other top-quality hires if their employer cares enough to provide them with on-site charging stations. Additionally, since employers want to retain quality employees, having a spot for EV-owning workers will make them feel welcome and, therefore, more likely to stay with their employer.
Consider Developing Vacant Land Near Major Highways into Charging Stations
As EV ranges increase and more commercial fleet operators consider fleet electrification, the need for fueling stations will grow across even rural areas, especially if major roads and highways run through them. Real estate developers who want to capitalize on the explosive growth of EVs should look at purchasing vacant land in these areas to develop into EV truck stops that accommodate both commercial fleets and passenger electric vehicles.
As with charging stations specializing in passenger vehicles, truck stops with EV charging stations accommodating heavy-duty vehicles should provide drivers with amenities they can enjoy while their trucks or buses charge. Real estate developers who build such stations should consider including:
- Restaurants that can accommodate busloads of people
- Places to shop
- TVs to watch sporting events and catch up on the news
- Showers for weary drivers
- Parking spots where drivers can sleep as their trucks charge
Truck stops with diesel and gasoline fuel have already introduced the concept with one-stop shops like northeastern Ohio’s Jo-Jo’s Travel Store. Since it takes longer for an EV to charge, it’s a no-brainer to include those kinds of amenities in new EV fueling station builds.
EV drivers can’t yet pull up to a pump and charge their cars in only a few minutes. Having chargers on-site means that a shopping center’s customers can spend the 30 minutes or more that it takes to charge their cars inside the building — doing business with the stores and restaurants inside the building.
Install EV Charging Stations in Supermarket Parking Lots
As a Boston Consulting Group survey discovered, US EV drivers ranked supermarkets as fourth in their wish list of places where they’d like to see more EV charging stations. Since everyone needs groceries, it makes sense for real estate developers to include at least Level 2 charging stations — and perhaps even DC fast chargers — in their plans.
It’s not a new idea to provide fueling opportunities for shoppers. Hy-Vee, Meijer, and Giant Eagle are only a few of the nation’s supermarket chains that include gas stations in or near their parking lots. With EV ownership on the rise throughout the US, real estate developers who pioneer EV fueling stations in new supermarket parking lots will likely have an edge over their competitors.
Include EV Charging Stations in Strip Mall Plans
With shoppers heading out an average of 62 times a year to strip malls, it’s critical that new strip mall builds include amenities that will set their shopping center apart from all the others springing up throughout the neighborhood. If you want to attract high-end stores to lease space in your mall, it’s essential to include the kinds of amenities that will make customers want to shop there. EV charging is one of those critical amenities to include as EV ownership grows, especially among younger, more affluent shoppers.
Don’t Overlook New School and University Buildings
With EV usage increasing among younger drivers, both university students and young parents will need a place to charge their vehicles while they attend classes or watch their children participate in school plays and athletic competitions. If you plan to bid on an educational building program, consider mentioning EV charging in your proposal. Some schools even plan to transition to an electric bus fleet, so offer prospective clients the option to install EV charging infrastructure in new garage buildings.
Build EV Charging into New Theater, Museum, and Concert Venue Parking
Whether your plans include a relaxing outdoor concert venue, a museum out in the suburbs, or a theater in the heart of your city, it’s likely that at least some of your patrons will drive EVs. Given EV owners’ high average educational and income levels, it’s even more probable that a growing percentage will be EV drivers, as a CalMatters post notes.
Highly educated people are not only more likely to purchase an EV. They also attend cultural events, such as live music concerts, museums, and theater performances, in greater numbers than others.
Since arts events usually last for hours, having EV charging stations in these venues’ parking lots allows attendees to enjoy the experience while charging their cars for the ride home. Coming back to a charged car after a thrilling performance is the perfect ending to a great night out.
Discover More Ways to Leverage EV Charging to Boost Your Business
Incorporating EV charging into your real estate development business can attract more customers and provide an additional income stream. At the EV Charging Summit, you and other company leaders can learn how to leverage EV charging to take your business to the next level.
With a variety of topic tracks, each tailored to specific business interests, you and your team will come away with the knowledge and connections to grow your company by adding EV charging to your services. Time is short, so register for your place at the Summit today!
