Green Tree Apartments

Property Redevelopment

Concierge's objective is to reposition underperforming or troubled properties into attractive and profitable holdings.

Buildings and grounds are cost-effectively redeveloped with time-tested, signature enhancements that lend a timeless, upscale residential appearance and help distinguish Concierge's apartment communities from their aging contemporaries.

Redevelopment

vs. Former Developers' All-New Construction


Professionals in the multifamily industry realize:

  • It takes far more expertise to cost-effectively redevelop broken apartment communities than to develop new apartments.
  • For apartment communities with significant deferred maintenance, few developers are able to cost-effectively redevelop them.

Former Developers: Often Costly

Many former developers, now trying to be redevelopers, generally only understand how to demolish or tear out entire areas suffering from deferred maintenance and/or construction defects and replace them with all new, costly construction.

Experienced-based Redevelopers: Cost Effective

In contrast, Concierge carefully applies its expertise to fixing what needs to be remedied or enhanced.

Most importantly, unlike new construction, Concierge's redeveloped apartment communities, including even once-core communities:

  • Are able to save (on an individual property basis) up to millions of dollars in construction costs.
  • Have proven to be both safer and more rewarding for investors.

Property Redevelopment / Owner's Disadvantage

Too often property owners are forced to approve costly repairs of essential life-safety issues.

Adding injury to insult, coupled with construction overrides, these repairs often exceed an engineer's estimate for fixing problems and can end up providing an extra layer of profits for conventional property management companies.

The Overlook at Lakemont - Seattle, WA

The Overlook is an appropriate example where literally over $4 million was saved by Concierge's professionalism in repairing the property's life-safety construction problems.