Our construction team is focused on delivering well-conceived projects that provide a quality place for people to live while adding meaningful value and driving returns. Our established track record overseeing major multifamily renovations includes successful completion of value-add redevelopment projects ranging from single scope to $40k per unit major repositions.
In addition to updating units and common areas during a rehab, we also look for underutilized areas which can be repurposed to generate value. We are owner operators first and foremost, so everything we implement has to either directly improve the bottom line or align with our hold strategy in a meaningful way. Decades of continuously testing new and innovative approaches has made us experts at tailoring effective strategies to every property we renovate.
Scope creep is a major risk with value-add renovations and is usually a result of inadequate due diligence, hidden damage, or both. Nothing kills a value-add rehab like an under-scoped budget. Addressing discoveries after takeover requires re-baselining and/or descoping the project, often times stripping the property of much needed value-add improvements. Our extensive due diligence inspection process ensures every property is adequately scoped and budgeted with the appropriate level of contingencies to maximize the probability of success.