University Place

  • Before

  • After

Project Description

46-unit, 176-bed student housing facility in Fresno, CA

THE SITUATION

This facility was purchased out of foreclosure in 2015 for $30,000 per door with only three occupants. Deferred maintenance was evident in all components of the physical plans including windows being broken and boarded up with plywood.

THE STRATEGY

The facility was completely renovated by “taking it down to the studs” over 12 months. Improvements included replacing all kitchens, bathrooms, windows, and roofs, and painting the entire complex. We added garages, security fencing and an outdoor entertainment area, named the Bulldog Chill Zone.

THE OUTCOME

University Place was fully leased for the first academic year after its renovation. Approximate current value suggests a 46% return on investment.

Project Details