It looks like a high-end refugee camp
If your house was destroyed by a flood or tornado, maybe your house will look like this. Crowding a bunch of little boxes tightly together does not mean the design is efficient. In this case, it's just ugly. Location, location, location. There is a trailer park in Santa Barbara Ca.(at least I think that's where it was), right on the beach, with double size trailer homes ($500K), packed cheek by jowl, but who would care. Since you are right on the beach you would only go back to the ugly little boxes pictured above to sleep. Less square footage per unit in apartment buildings would be far more efficient and not nearly as ugly as the example above.