These kinds of new ownership rehabs typically happen only if occupancy or market cap could be higher.
These kinds of new ownership rehabs typically happen only if occupancy or market cap could be higher.
Heard back from them about the exterior renovations:
The renovations officially kick off in a few weeks and will start with our entrance and work around!
They have temporarily moved their leasing office into the Steak and Catfish space in anticipation of a rework of the space where their offices and club room was. I have no doubt that the renovations are imminent.
Darn, no more awesome green awnings!
Avana has formally submitted it's renovation plans and should be starting soon.
This is going to be a massive improvement. Note the metal awnings, the use of metal in the gabled ends and most importantly, the removable of those hideous awnings along Walker.
This whole area is yet another hotbed, with the Civic Center Lofts, 700 West and Sycamore Square New Build:
So there's hope for the other boring/ugly downtown apartment buildings. Nice to know.
Although, that reminds me a bit of the Maywood Apartments with a pitched roof. Improvements are a relative thing.
It's hard to tell in the renderings, but they are actually squaring up the arches in the area around the lobby.
This is going to be very comprehensive and it will soon look very different -- thankfully.
By the way, work has begun on this project, inside one of the recessed areas along Robert S. Kerr.
Right now, this is the ugliest residential building in downtown -- if anywhere. Hopefully the improvements are dramatic in nature.
I drove by and saw they had already started doing some work on the renovation. I'll try to get some pics this weekend.
True, Legacy was still a step up for us.
They're really getting after it. I was thinking it was mostly cosmetic and would be paint and materials applied over the existing EIFS, but they are actually ripping that off for the most part, as far as I can tell. It's a pretty major undertaking.
There is a good chance the existing EIFS failed and causing waster damage behind the wall that has to be repaired. It is a common failure mode for barrier-style EIFS. It is possible this facelift has as much to do with envelope failure as it does with cosmetics.
Can the city ban the use of EIFS? Does someone at City Hall have stock in the manufacturer? Why are developers still using this?
Photo from Hemingstein; looks like they are taking the EIFS completely off (that's plywood):
And that upper portion of plywood does not look to be in the greatest of shape.
This could be a major improvement.
You know, if all the buildings downtown that used EIFS in their construction, renovated their exteriors and replaced it with brick over the next 10 years or so, things would look a lot better.
Ban on certain types of EIFS in state of Oregon. Moisture problems in Oklahoma are a concern due to extremely heavy periods of rain coupled with high winds.
http://www.cbs.state.or.us/bcd/whats...ier_notice.pdf
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