FEATURED COMMUNITIES
FAIRCLIFF PLAZA EAST - click here for additional information
Faircliff Plaza East is a 80 unit apartment complex built in 1981 and located in the Columbia Heights neighborhood of Washington, DC. The project consists of 24 one-bedroom units, 40 two-bedroom units, and 16 three-bedroom units, all of which are subsidized through a project-based Section 8 contract. Each building contains 4.5 stories, the lowest level being partially below grade. There is an on-site management office, laundry facility, and an open-air parking lot that contains 40 parking spaces.
FAIRCLIFF PLAZA WEST - click here for additonal information
Faircliff Plaza West is a 112 unit property located in the Columbia Heights neighborhood. It houses low and moderate-income tenants through a mix of one, two and three bedroom units. The property was built in the early 1970’s and is 100% Section 8. Eagle Point acquired the property in early 2005 and completed renovation of the property and organizing tenant services in 2006. EPE is committed to preserving the long- term affordability through the low-income housing tax credit program. Eagle Point has joint ventured with Somerset Development Company and The Faircliff Plaza West Resident Association.
MEADOW GLEN APARTMENTS - click here for additonal information
Meadow Glen Apartments is a 208-unit apartment community composed of 37 separate buildings. EPE aquired the property in early 2005. Although the property had been maintained, it was in need of significant renovations and upgrades. Eagle Point Enterprises completed property renovations in 2006 and will maintain the affordability for the residents.
RIVERBEND APARTMENTS - click here for additional information
Located in the Mount Pleasant neighborhood of St. Louis, Riverbend Apartments is a 98 unit, 9-story mid-rise apartment complex, built in 1975. The building is situated on a bluff overlooking the Mississippi River, with most of the units enjoying a view of the water. Due to its location on South Broadway and close proximity to downtown, residents have easy access to shopping and service oriented businesses.
PHEASANT RIDGE - click here for additional information
Pheasant Ridge is a 166-unit apartment complex located in Kentwood, Michigan, a suburban community in the southeast corner of the Grand Rapids metro area. The property consists of 71 one-bedroom apartments, 35 two-bedroom apartments, 36 two-bedroom townhouses, and 24 three-bedroom townhouses. The property was originally developed in 1974 under the HUD Section 236 program. Eagle Point Enterprises (EPE) purchased Pheasant Ridge in December 2003 and invested more than $3,000,000 to renovate the property.
DELSEA VILLAGE - click here for additional information
Eagle Point Enterprises (EPE) purchased Delsea Village in April, 2004 and is conducted substantial renovations to the property at a cost of more than $24,000 per unit. Delsea Village is located in Millville, New Jersey, and is a 100-unit garden-style apartment community consisting of 1, 2, and 3-bedroom units in eleven separate buildings. Ninety-nine of the 100 units at the property are project-based Section 8. Delsea Village was originally developed under the Department of Housing and Urban Development (HUD) Section 236 program.
NORTHWINDS-- click here for additional information
After purchasing 440-unit Northwinds Apartments in December 2005 for $22M, Eagle Point Enterprises split the development into two separate properties: Glen Owen Estates and Windward Estates, now known collectively as ‘A Northwinds Community’. The smaller of the two, Glen Owen Estates, consists of 192 two-bedroom units of 923 square feet in 48 garden style buildings, while Windward Estates consists of 248 two and three-bedroom units ranging in size from 792 to 1056 square feet in 62 buildings. Many units in the Northwinds Community enjoy an unfinished private basement and all have front and rear entry access and some hardwood flooring. Site amenities include an Olympic-sized swimming pool, a wading pool, a playground, a softball field, private daycare and a 90-acre campus. The local elementary school is within walking distance from the property. All in all, both Glen Owen Estates and Windward Estates have the look and feel of a nice suburban community.
ROCHESTER HIGHLANDS--click here for additional information
The purchase of 504-unit Rochester Highlands in Rochester, NY was completed in December, 2005 for $20M. Situated in a mixed use neighborhood with easy access to I-390, Strong Memorial Hospital and University of Rochester, the market rate property was due for rehab investment to maintain viability. The garden style units are one, two and three bedrooms, ranging in size from 460 to 875 square feet. Additional property amenities include community room, laundry facilities, play structure, and well maintained and mature landscaping.
ARMOUR BOULEVARD PORTFOLIO
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