Affordable Case Studies
Headwaters
Portland, Ore.
OVERVIEW
Guardian was hired by the Portland Development Commission in December 2007 to lease up and manage the Headwaters apartments. The goal set for Guardian was to place qualified team members at the property, lease up this 100 unit community by July 2007, while preserving the integrity of this eco friendly building by adhering to management that would reflect this lifestyle. Certificate of occupancy was obtained mid-December 2007. The team consisted of a full-time manager, full-time leasing specialist and full-time maintenance.
EXECUTION
With the uniqueness of this project, Guardian Management implemented an innovative approach to leasing this property. By placing an experienced on-site management team that was eco-savvy, Guardian Management was able to quickly and easily identify and target the demographics for the property. All advertising focused on the eco-friendly aspect and amenities of the community, with energy savings and health benefits as key points. Advertising was primarily Internet based, with a focus on the Craigslist Web site which captured both local and out-of-state renters. Local universities/colleges that offered degree programs in sustainable business/law/urban planning were also successfully targeted. Local green business and events were also targeted. Marketing materials were kept to a minimum, reducing costs and paper waste.
OUTCOME
The lease up of Headwaters Apartments was completed in six months, with rents higher than proforma with little to no concessions offered, and relying almost soley on free Internet advertising on Craigslist. Headwaters Apartments offers residents a unique living experience where residents are surrounded by the environmentally conscientious. This lifestyle is highly desired by Oregon’s renter population. Guardian and the PDC were both pleased with the success of this lease up.