Value-added Highlights
- exterior and interior renovations
- construction management team executed a renovation of $1557 per unit
- Value-add upgrades to unit interiors
- Rebuilt two buildings (32 units) due to fire
- Changed onsite management to improve operations
- Increased occupancy from mid-70s to high-90s
- Reduced turnover by over 25%
- Increased other income by 300% through utility fees and additional fee revenue
- Increased value of property by approximately $17,000 per door
- Expenses reduced to $3,018 per unit through efficiency and economies of scale
- Added new ESL and early education program – first of its kind – on the property through corporate sponsorship (Verizon and IBM)
