Grant Park
Location
Royal Oak, Michigan
Project
17 Unit Townloft Building
Description
Amongst the plentiful inventory of loft units in Royal Oak, Grant Park was something different. The product encompassed two important things that people could not obtain from the competition: 1. A two car attached garage, 2. A private front door entrance. These items in addition to a great location across from the city’s Grant Park and being within walking distance to downtown made this project distinctive. The difficulties were overcoming the amount of stairs in the units (3 flights) and the hefty price tag. The developer had a rough initial introduction which they needed to overcome as well, for two years the development never progressed beyond the initial start-up. There was initial interest but many lost faith or bought elsewhere. This complex is now one of the most sought after places to live in downtown Royal Oak.
Services
Research/Design Services
Determined new pricing plan
Target market definition
Altered and define new floor plans
Determined selections and pricing
Marketing/Sales Services
Re-Introduced to market
Boutique sales approach.
Neighborhood awareness campaign including Caribou coffee promotion
All marketing collateral and coordination
Overall image direction and coordination
Website direction and coordination
Brochure direction and coordination
High end apartment campaign
Broker relations and office presentations and signage
Relocation/HR awareness/incentive packages
Beaumont hospital focus
Managed and facilitated all sales activities
Created and maintained all sales documents
Procured reservation and purchase agreements
Client meetings and all client relation
Units were not able to be mortgaged due to non-warrantable issues
Strategically leased out condos in order to fill the property and either sell to an investor when needed or to the occupant once the community stabilized
Sell-off of these units was completed within a year time period
Monthly rents went to help aid in the maintenance and preservation of the property
Construction Management
Determined all building components fit within budget
Subcontractor selection, negotiation, and purchase order process
Managed all unit build-outs scope of work, time line, and physical construction
Post Purchase and Closing
Coordinated with lenders and title company
Defined closing schedule and lead closings
Maintained all client relations, retention and follow-up