Author: Elan Sablich
Princeton Bradford wins NAHB award
8
MARCH, 2021
Best Repositioning/Redevelopment of a Multifamily Community
Princeton Bradford is honored to have won the National Association of Home Builders (NAHB) Pillars of the Industry award for Best Repositioning/Redevelopment of a Multifamily Community.
When Princeton began managing Princeton Bradford in 2017, the property was in a state of neglect. The tennis and basketball courts were in disrepair and the pool had been closed for several years. The property was far from being the jewel it had once been, but Princeton saw it’s potential.
“One Pillars judge called Princeton Bradford Apartments an “excellent and impressive rebirth of a super property.”
Princeton set out to transform the property – freeing it from years of neglect. They resurfaced the pool and added a new pool deck and furniture. The existing office building was redesigned to add a package area and a fitness center. All building exteriors were repaired and repainted and the common areas were given new paint and carpet. Apartment interiors were upgraded with new paint and carpet, cabinets, appliances and countertops.
Since the completion of the project, the feedback from renters has been overwhelmingly positive, not only around the community improvements but also in relation to the onsite management and maintenance teams. Browse through our pictures above, or read more HERE.
CEO Andrew Chaban on Yield PRO TV with Linda Hoffman
CEO of Princeton Properties, Andrew Chaban, sits down with Yield PRO TV’s Linda Hoffman to talk about Princeton’s strengths within the industry, gentrification, post-pandemic life, & Renaissance Art. Watch the video below.
Or listen to the podcast on yeildpro.com.
Princeton Bradford Apartments selected as a finalist for a 2020 NAHB Multifamily Pillars of the Industry Awards
15
DEC, 2020
Princeton Bradford Apartments has been selected as a finalist for a 2020 NAHB Multifamily Pillars of the Industry Award in the Best Repositioning/Redevelopment of a Multifamily Community category.
Princeton Bradford (formerly Forest Acres Apartments), located in the Bradford neighborhood of Haverhill MA, is a fifty-acre garden style market rate apartment community with 46 buildings and 410 units (80 one-bedroom units, 314 two-bedroom units and 16 three-bedroom units). The community was acquired by Belveron Partners in 2017. Since then, Princeton Properties Management Inc. has been working with Belveron to preserve and upgrade the quality of this workforce housing community.
Completely remodeled the clubhouse with new amenity space, secure smart access, and new offices.
When Princeton Properties took over the asset management, the community was undervalued and in need of extensive repairs and upgrades. Built in 1973, this community was once the pinnacle of multifamily construction and amenities. Our goal was to reposition this asset to better compete within the high-demand submarket for affordable, quality multifamily housing. Princeton was excited to take on this gratifying challenge.
A property in disrepair: A plan for repositioning
It became clear to Princeton Properties and Belveron Partners that a strategic capital improvement plan was the best means by which this property’s long-term capital needs could be met while simultaneously ensuring its long-term affordability.
The capital plan measured resident feedback as an important part of the plan. The existing amenities were in disrepair and we unusable. The tennis courts, basketball courts and swimming pool were a hazard, the swimming pool was not able to be opened for several years.
Considering the resident’s quality of life, we began extensive renovations including resurfacing the pool, repaving the tennis and basketball courts as well as re-designing the existing office building to include a new package acceptance area and fitness center.
A 3 Year capital plan
A three-year capital plan totaling $5,297,141 ($12,919 per unit) was implemented in 2017.
Renovations included a renovated leasing office, adding a fitness center and package acceptance room. Constructing a new pool deck with furniture, updating the tennis and basketball courts while adding a pickle ball court.
This capital plan also included addressing:
- Long standing water permeation issues
- Long standing water permeation issues•
- HVAC system upgrades•
- Unit renovations•
- Repair all the building exteriors
- Updating all of the interior common areas
- Adding new amenities while repairing existing amenities
Since the completion of the first two years of the project, the feedback from renters has been overwhelmingly positive, not only around the community improvements but also in relation to the onsite management and maintenance teams.
Princeton is honored to be selected as a finalist by the National Association of Home Builders in the Best Repositioning/Redevelopment of a Multifamily Community category.
A Note from Princeton
At Princeton Properties, everyone is family.
Princeton has strong ties to the local community and believes in fostering communities that generate pride for residents and employees alike. We believe in the fight for equality and against injustice. We will not be silent, we will denounce racism in any form, and we will do our part to make our community and world a better place.
The recent murders of George Floyd, Breonna Taylor, and Ahmaud Arbery, and countless others, have shaken this country, and our community, reminding us of the racial injustices and systemic racism that continue to affect our country. We are unwilling to accept this version of normal, we will seek to better understand inequalities and injustice, responding with concern for others. We will listen. We will stand up against violence, hate and racism.
To everyone protesting systemic racism, and to those taking part in the Black Lives Matter movement, Princeton stands proudly with you. It’s time to speak out, and to conduct ourselves and our businesses in ways that promote justice and equity for all.
As leaders, colleagues, friends, family, and neighbors in our global community, it’s imperative to stand up and raise our collective voices against inequality, intolerance, and injustice. Together we can create a community that generates pride for all residents. Together We Can. Together we are family.
Ways to get involved and fight racism:
Donate to:
Or:
Sincerely, The Princeton Properties Team
We’re getting through this together #PrincetonCares
Our Princeton team continues to be there for our residents, day in and day out. We’ve all had to make changes to our daily routines and Princeton wants you to know we’re here to help our residents and greater community. Princeton stands with our essential workers, local service industry and restaurant workers, and our residents and families who are staying home and staying safe.
Running out of ideas in the kitchen? River Place Towers is helping crowd-source new meal ideas!
Pheasant Run wants everyone to know that their whole team is there to help and showing their gratitude for all essential workers.
We know our friends in the service industry are hit hard, so Princeton Dover has been reaching out to #SupportLocal and give residents a tasty treat
Our friendly Maine team is wants to remind you “I’ll Be there for You”
We’ll get through this together #PrincetonCares
Here at Princeton, we care about the safety of our residents and staff. We’re here for you during this difficult time. Below are just a few of the things our teams are doing!
The team at Pheasant Run has got moves!
Princeton Westford is celebrating birthdays while practicing safe social distancing.
Princeton Dover is ensuring safe package and mail delivery
The Graphic is remembering to #supportlocal
Our Lowell team is reminding us, there’s still time for fun
Update: March 19 – Limiting Office Staffing
Updates effective March 20th:
- Leasing Offices will remain open with limited hours of 10am – 4pm. Unless otherwise stated, our leasing offices remain open. Residents are being asked to submit all requests through the ResidentPortal in an effort to minimize human contact.
- Virtual Tours only – No in person Touring. We are offering virtual tours via FaceTime and Google Duo. Future residents who wish to schedule a tour can contact their local management office.
- Staff on properties will be limited. Princeton will be staggering office and maintenance staff in shifts, in order to minimize contact. But rest assured, we are still here for you. In addition to our team members in the office, we also have team members working from home available to assist.
- Gyms and fitness centers remain open. Unless otherwise stated, most of Princeton’s smaller gyms and fitness centers remain open. Residents who wish to use these areas are being asked to follow CDC recommendations and guidance for using the fitness equipment.
These policies will remain in effect until April 2, 2020. If you have any questions, please reach out to your local management team.
Update: March 17 – Yes we are open
To Our Residents, current and future, we’re here to help
Princeton Properties continues to monitor the situation surrounding Coronavirus/Covid-19. We will post updates here as we have them. Our leadership team is in steady contact with all of our on-site management teams in an effort to keep as up to date on the needs of our residents and employees.
Yes, we’re open:
Our leasing offices remains staffed during regular business hours. In an effort to minimize exposure to both staff and residents, please utilizing ResidentPortal, phone, or email to contact your local management office. We’re offering tours via Facetime and Google Duo for future residents – so if you’re interested in touring any of our available apartment homes, please reach out to our leasing teams and we will set up a virtual tour.
Reminder, per the CDC:
- Wash your hands frequently with soap and water for a minimum of 20 seconds. If soap and water are unavailable, use an alcohol-based hand sanitizer.
- Avoid touching your eyes, nose and mouth with unwashed hands.
- Avoid physical contact with people who are sick.
- Stay home when you are sick.
- Cover your cough or sneeze with a tissue, then throw the tissue away.
- Have some extra (not excessive) food and supplies on hand.
- Frequently clean and disinfect touched objects and surfaces.
- Wash your hands or use alcohol-based hand sanitizer before and after touching building entry doors, common area doors, buzzers and keypads.
- If possible (and applicable) take the stairs instead of an elevator. When using an elevator, disinfect hands before and after pressing the call buttons.
- When using the fitness and laundry centers, wash hands before and after each use and try to avoid touching your eyes, nose or mouth.
The health of our residents and our communities is our first priority. If you have any questions, please do not hesitate to contact your specific property management team!
A Message to Our Residents about COVID-19
To Our Residents,
As a valued Princeton Properties resident, it’s important that you know we are closely monitoring the circumstances related to COVID-19 (Coronavirus) as it evolves. Our primary concern is the health and wellbeing of our residents and employees. We want to assure you that Princeton Properties is committed to doing everything we can to help you stay well informed and healthy. Now is the time for all of us to play our part in minimizing the virus’ spread.
What We’re Doing:
We have been sourcing information from the Centers for Disease Control (CDC) and the World Health Organization (WHO) to stay on top of this evolving situation. We are implementing recommended guidelines to mitigate exposure for our employees and following the CDC’s recommendations on steps we can take to help prevent the spread of the virus. For example, we’ve shared specific instructions with our employees on the importance of washing their hands and staying home if they feel sick. We are also actively reviewing our property cleaning protocols. This includes evaluating and modifying the frequency and intensity of office and common area cleanings as well as assuring that appropriate disinfecting products are specifically identified to be effective against the Coronavirus.
How You Can Help:
As residents, employees and community citizens we all share the responsibility to be vigilant in doing everything we can to combat this virus at home and at work. Following established hygiene practices and using good old fashion common sense will go a long way to accomplishing this goal. A reminder, based on the information from the CDC, WHO and other sources, it is thought that the most common way to contract the virus is through person-to-person contact.
Residents should be utilizing the Resident Portal to pay rent, submit work orders and communicate with our management teams in an effort to reduce visits to the on-site office. Continue to call in any emergency work orders, but please hold off on submitting non-emergency work orders to reduce visits into your apartments.
Here are further recommendations and guidance from the CDC:
- Wash your hands frequently with soap and water for a minimum of 20 seconds. If soap and water are unavailable, use an alcohol-based hand sanitizer.
- Avoid touching your eyes, nose and mouth with unwashed hands.
- Avoid physical contact with people who are sick.
- Stay home when you are sick.
- Cover your cough or sneeze with a tissue, then throw the tissue away.
- Have some extra (not excessive) food and supplies on hand.
- Frequently clean and disinfect touched objects and surfaces.
- Wash your hands or use alcohol-based hand sanitizer before and after touching building entry doors, common area doors, buzzers and keypads.
- If possible (and applicable) take the stairs instead of an elevator. When using an elevator, disinfect hands before and after pressing the call buttons.
- When using the fitness and laundry centers, wash hands before and after each use and try to avoid touching your eyes, nose or mouth.
As with any medical situation involving your health, we strongly recommended that you consult with your own physician as to your personal condition and follow any additional steps they may recommend to take to be healthy and safe.
Helpful Links:
Centers for Disease Control and Prevention | World Health Organization
It is our goal to continue providing you the level of top service you expect, as we navigate together through this ever changing situation. We will continue to monitor the situation and stay current with advice from the CDC and public health officials. The health of our residents and our communities is our first priority. If you have any questions, please do not hesitate to contact your specific property management team!
Andrew Chaban
CEO
NEI General Contracting wraps up Holmes Beverly
21
FEBRUARY, 2019
NEI General Contracting wraps up Holmes Beverly: a 67,000 s/f transit-oriented mixed-use development
BEVERLY, MA—(September 20, 2018)– NEREJ
NEI General Contracting completed Holmes Beverly, a transit-oriented mixed-use development located adjacent to the Beverly Depot commuter rail station in the heart of downtown. Located at 112 Rantoul St. and developed by Barnat Development, the 67,000 s/f six-story new construction includes 67 residential rental units plus commercial space.
Holmes Beverly was completed almost two years to the day that Barnat Development was designated the developer of the site by the Massachusetts Bay Transit Authority (MBTA).
Offering a new type of rental product for the North Shore, Holmes Beverly has five floors of residential rental units, including 51 market-rate and 16 workforce housing units. The apartments range from studios to two-bedroom apartments offering views of both downtown and the waterfront. Located next to the Beverly Depot commuter rail station, residents have access to 70 reserved parking spaces in the commuter rail parking garage.
In addition to convenient access to the MBTA commuter rail, Holmes Beverly offers a myriad of luxury amenities and features for its residents. On the ground floor, residents enjoy a lobby featuring a fireplace, seating areas and a library as well as a telecommuting office for those working from home. A 5,000 s/f space has also been reserved for a future New England craft-style restaurant.
“We are thrilled to bring a new transit-oriented mixed-use building to downtown Beverly and hope the residents are happy in their new homes.” said Sarah Barnat, Founder and Owner of Barnat Development.
Read the full article on NEREJ.