Rehab at Park at Riverwoods Complete
In early 2019, Loop Investments purchased Huron View Apartments in Ypsilanti, Michigan. The property had been neglected and many residents were months behind on rent. With Eastern University less than a mile away, the potential for a flourishing property was evident. Understandably, in order to attract the college students and young professionals from the area, the property would need some serious rehab. The day Loop moved in the project began. The first item on the agenda was to re-brand the property as The Park at Riverwoods and make a change in management. For the next six months the site was hustling and bustling with contractors who gave the property a complete interior and exterior facelift. Over $800k was invested in the property to bring it up to speed. The property is now beautiful and has a steady flow of traffic each day. A “green project” was also put in place to completely update the lighting and toilets. Since completion, over 50% has saved on energy bills. We are grateful to see that within a short time our hard work and efforts have paid off, occupancy has increased from 78% to 97%.