TALLAHASSEE, Fla. (December 1, 2012) - Student Housing Partners LLC of Tallahassee is preparing to embark on a renovation of Villa Cortez, an apartment community the firm bought two weeks ago.
Total value of the purchase and the construction is $13.1 million, said James Sauls, a partner in SHP. Among the improvements are kitchen and bath overhauls, new windows and doors, and upgrades that conform to current green construction standards.
Also planned are such amenities as cable TV and Internet – “all the tools today’s student requires and needs,” Sauls said.
The apartments, 1834 Jackson Bluff Road, will keep their Mediterranean-style architecture, but Sauls said the buildings will be reconfigured so the floor plans offer a one-to-one bedroom to bath ratio. That means the complex will go from 138 units/252 beds to 126 units/270 beds.
Sauls said the first phase of the work is scheduled to be finished by August 2013, with the second phase to be finished the following year. Architectural firm Lewis and Whitlock of Tallahassee is the designer on the project.
SHP is a developer, builder and manager of 22 different student housing communities that total 5,200 beds.
The project will be professionally managed by Student Housing Solutions. Since its founding in 2003, SHS has built a resume of more than 15,000 beds and is considered one of the top 25 student housing management companies in the United States.
SHS manages all types of student-related real estate including multi-family residential, scattered properties, and commercial shopping centers in and around student campuses.