It is January 2015. After years of wholesaling real estate we have our first multifamily property under our flagship banner. The property is 64 units located in Phoenix and named "Canberra". We pronounce it "can-BEAR-ah". Our New Zealand friend shook his head and said, "CAN-brah" after the city in Australia. Those Kiwis. They are so fussy on how we speak English. In fact, he said we Americans are great at one thing - butchering English! Well, I would have to agree with him on that one. We do. The bigger question is, why are people from New Zealand called "Kiwis"? And was the fruit named after the bird or was the bird named after the fruit? And what about New Zealand? I wonder what happened to the old one...
Back to CAN-brah and the experience I am anxious to share.
Through creative ownership, we take over a property and are ready to put our brand on it. We partnered with another group and are excited to see how we can impact this community! At purchase the property is 60 1-bedroom units and 4 2-bedroom units. We have an ambitious plan to bring some diversity to the marketplace. And by diversity I mean changing up the unit mix. Our plan is to take a bedroom from some of the 1-bed units and add to the neighboring 1-bed units to make some 2-bed units. The result? 20 studios, 20 1-bedrooms and 24 2-bedrooms. How amazing is that?
The project went really well and the outcome was awesome!
As we were there mapping out the project, I saw an elderly lady struggling to get her bag up the stairs. Now, this was not a large bag. But, this was not a large woman. The bag was a simple reusable grocery bag. Her roller cart was one of these lightweight collapsible luggage carts. The woman was likely not even 90 pounds. She stepped up one stair, stopped and lifted her bag. Then stepped up another, stopped and lifted her bag up the second stair. When she got to the third I walked over and offered to carry her bag up the stairs. She smiled graciously and up I bounded. The bag and cart must have been about 10 pounds.
A few moments later she herself made it up. “Oh to be young again! Thank you!”
Ha! Me young? Tell my children and grandchildren. They think I am an old man. I soaked in the thought of being “young”. I was broken from this reverie when I realized I was stopped in front of her and she was waiting for me to move out of her way. I turned and then walked alongside her as she ambled to her unit.
My favorite question when I meet someone at a property: "Do you live here?" "Yes", she says. Next question is the revealing one: "Do you like it here?" "Yes. But, I would like it better if I was on first floor. I'm 87 years old, a widow and there is no elevator here. I'm not as strong as I used to be." The next thing I ask is if she told management. She said she did when she moved in but has heard nothing since. We exchange a few pleasantries as we are standing outside her door.
What did I do next? Return to the meeting we had been so deeply engrossed in when I saw her walking up the stairs? Nope! Right to the manager's office to let them know the situation. They didn't need me in the meeting anyway as I just get in the way.
On a future visit I was walking the property checking out the progress when I hear a small voice, "Excuse me? Sir?" I turn to see the same small, elderly woman across the way. I walk over to her to see if everything is ok. We exchange greetings and I ask her if they moved her. She was so excited that they not only moved her, they gave her a brand new upgraded unit and didn't raise her rent. She was delighted! And, it was closer to the front gate so she didn't have to walk so far.
This brings us back to the current. Our project in Sierra Vista is very similar with the level of work to get done. It will be similar size with nearly the same number of units. My hope is the residents who move in have the excitement of the "2nd Floor Elder" when they move into our updated units.
With that, this week's update:
The plumbing for the fire suppression system (sprinkler) is well under way and the installation continues. More on this next week.
Pool has been emptied to update the system and is being refilled as I type this update. It will be nice to have another item checked off our checklist.
The current construction is to frame out the walls in the two laundry rooms for housing the electrical panels. Since we have to upgrade the system we had to find a home for the additional panels. The main panels are are in the utility room down the hall, around the corner and then outside and then a u-turn into the utility room. After much deliberation, the electricians recommended we have the new panels installed up near the entry. Having no say in the matter, I simply nodded and smiled.
And that is our project from my corner of the globe ~Bruce
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