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Page 28 — Multifamily Properties Quarterly — August 2017
Management
D ifferentiation is a key word
when talking about apartment
living. It is important to know
what makes your community
special and what it is about a
property, an apartment home and the
community that stands out to rent-
ers.While many developers follow the
same economics, not all build the same
type of buildings.The world is full of
differentiating behaviors and demo-
graphics looking for different features
in apartment living. Following are some
projects covering a variety of needs to
area renters.
• Wide-open spaces. Sure, millen-
nials are flocking to the urban core
for smaller apartments in the down-
town setting. However, that’s not for
everyone, nor can everyone afford
the Class A projects being built
downtown.
Palisade Park near Interstate 25
and Highway 7 offers Colorado-style
living near downtown, but focuses
largely on quality of life. The com-
munity embraces wide-open living
while still caring about ameni-
ties and design. Case in point, its
6,000-square-foot clubhouse features
fire pits, a waterfall and beer on tap.
“People visiting Palisade Park love
that we are located centrally to
downtown Denver, Boulder, Fort Col-
lins and the airport,” said property
manager Christina Alderson. “They
can enjoy the city life while at work
and the serene surrounding of the
mountains and suburbs while they
are at home.” Tenants also enjoy
access to shopping, bike paths and
restaurants nearby without having
to fight the hustle and bustle of traf-
fic, she said.
• Property repo-
sitioning. We know
that areas like
Lower Downtown,
Cherry Creek and
Boulder are get-
ting too expensive
for many renters.
Trying to scrape a
property and con-
struct a new build
may only be able to
reach a high-rent
audience, which is
getting more and
more competitive. One community
just off Pearl Street in Boulder went
for the property remodel and brand
reposition instead. A comprehensive
renovation created 2121 Canyon,
completely remodeled apartments
with open-floor plans and mod-
ern amenities. What once was a
dilapidated building now embraces
modern living design and materials,
such as quartz countertops, a break-
fast bar, new lighting and private
patio spaces. Even larger changes
were made to the building façade,
outdoor pool, lounge area and bike
parking. The changes allowed the
developer to rebrand the property
while appealing to a moderate price
point.
“With new construction costs as
high as they are, 2121 Canyon was
a great opportunity to leverage the
embodied costs of an older building,
create some great new amenities
and deliver value to our residents,”
said Scott Holton, principal of Ele-
ment Properties.
• Unit plan layout. Not everyone
wants a smaller living space and not
everyone wants 20 floors of neigh-
bors living above them. Belle Creek
Commons, just north of Stapleton
offers two- and three-bedroom rental
townhomes as well as one-, two- and
three-bedroom apartment homes.
Some renters cannot afford the more
expensive for-sale townhomes and
duplexes going up around the metro
area. For that reason, they are happy
to know these types of opportunities
exist for rent.
“Belle Creek represents a unique
opportunity in blending various con-
figuration of single-family homes with
townhomes and apartments, which is
unlike what one would find in most
multifamily communities that are
just that – many multifamily build-
ings segregated from other types of
residential and commercial develop-
ment,” saidWard Ritter, president of
Chartered Homes. “In Belle Creek, you
have a very walkable neighborhood
with multiple parks and open space,
neighborhood shops, a K-8 charter
school and YMCA-run community
center”
Finally, marketing can play an
important role in communicating
what makes all these projects differ-
ent. This level of differentiation and
brand positioning all relate to mar-
keting. The reality is more people see
your marketing than see the inside
of the can talk about
these specific examples of success-
ful differentiation, but if your brand
and the marketing doesn’t embrace
that, then potential renters may never
know. Marketing is the first impres-
sion, what differentiates your property
and what defines the proprety to your
audience.V
HOW WE DO IT:
P artnerships! We believe our relationships with
our staff, clients, subcontractors, vendors and the
communities in which we live and work are our
most valuable asset. A relationship becomes a
partnership when all stakeholders are focused on
creating win-win solutions resulting in successful
outcomes for everyone.
WHY WE DO IT:
E verything we do incorporates our Core Values
FIORE PRIDE:
Family - Innovation - Opportunity - Respect
Excellence - Pride - Responsibility - Integrity
Devotion - Environment
“SAFELY BUILDING A BETTER WORLD”
Together We Can Move Mountains
Fiore & Sons literally moves mountains for our
clients. In true partnership, we construct the re-
gions housing, transportation, utility and commercial
projects down to the ground and from the ground
down. We know there are a lot of companies out
there that do what we do - It’s how and why we do
it that matters.
WHAT WE DO:
Fiore and Sons is a Colorado - based third
generation family owned heavy civil contractor
providing a range of construction services including
demolition, site utilities, overlot grading, trucking and
material removal/recycling. With trusted subcon-
tractor partners we also have a proven track record
of delivering turn-key projects.
We live by these Core Values to create the best potential for success for all
of our partners (business, community and personal).
730 W. 62nd Avenue Denver CO 80216
Phone: 303.429.8893 / Fax: 303.429.3035
Doug Backman
Managing director,
DB Marketing,
Denver
DB Marketing
At 2121 Canyon, an old laundry room was revamped into a resident lounge.