Increase the bedrooms per units through creative use of space and redesign.While construction was underway, we put in place our proprietary marketing and leasing methodology in order to lease up all available optimized units. Through a tactical renovation budget paired with marketing & leasing asset creation, the product was presented as a logical entry point for living downtown with roommates. Finally, Fox's property management methodology allowed for managing the property below industry operating expense benchmarks, without sacrifying customer experience. 2075 residents benefit from a 24/7 concierge call center, hospitality-minded available on-call personnel, weekly community newsletter, and less than 48h maintenance request completion times. The end result was an increase in NOI of +51.6% with an additional 5 units remaining to be optimized.
