Do you have a project that needs some strategic improvements? Reach out today!
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As the Carolinas have boomed over the last few years, so have investor opportunities in the multifamily arena in this popping geographical zone. The Research Triangle Park has led to numerous tech savvy professionals to search for a place to call home in the Raleigh-Durham-Chapel Hill area. Old multifamily properties are being snatched up by investors and this property was no different. Close to Duke University and Duke Hospital, this asset was longing for a new model unit, new leasing office, new pool furniture and fresh exterior paint. The result was an asset completely repositioned after nearly a year of working closely with construction and asset management to best utilize each of these areas of the CapEx budget. Let’s take a closer look at how we did it.
Leasing Office
The clubhouse serves not only current tenants, but also as the leasing office for prospective tenants and renewals. In addition, the maintenance staff needed a space to have lunch on the property. Through the strategic knocking down of a couple of non-load-bearing walls, we were able to reconfigure the existing space to meet all users’ needs. New floors, fresh paint, a muraled wall of art and new furnishings allowed leasing agents to have a comfortable space to entertain and sign leases, while existing tenants could enjoy a more lounge-like environment. The kitchen area now offers a glass-front chilled beverage area and functional components, such as a dishwasher for all to use. Even a work area in the back room and lunch table allows maintenance staff to come and go at their leisure.
As a process-driven design firm, we were able to strategically reposition this asset. Intentionality and creativity allowed us to pull together a cohesive, inspiring space for years to come. Construction managers have an asset ready for years of light projects. Current tenants have a place they feel proud to invite friends and family to. Prospective tenants can envision their future in each of these spaces. Asset Managers stayed within their CapEx budget. Investors saw the ROI they were looking for. This is why we do what we do and are passionate about meeting the needs and wants of each of these stakeholders.
Do you have a project that needs some strategic improvements? Reach out today!