Capitalizing on Exceptional Demand to Accelerate the Lease-Up Timeline
- 363 Units
- Property Type: Garden/Low-Rise
- Year Built: 2012
Cypress, a Broadstone community, is a 363-unit, garden-style development located in Lewisville. The community embodies sophistication, and offers features and amenities that cater to active, athletic and busy individuals. Community advantages include private poolside cabanas with mini-refrigerators and personal televisions, a covered outdoor kitchen with grilling stations, and an outdoor lounge with fireplaces and televisions. Residents enjoy open-concept living areas with stained concrete and wood-style flooring, and the modern finishes and services one would expect in an upscale apartment community.
The Goal: Lease up and stabilize the property within 12 months.
The Work: Create excitement and generate leases by marketing to qualified renters, while emphasizing the community’s exquisite finishes and extensive amenities designed to tailor to the lifestyle our prospective renter desires.
The Results: Since leasing began in March 2012, the property has been averaging 32 move-ins per month. Overall, Cypress has seen exceptional demand, which has translated to being 90-percent leased after only nine months and a three-percent increase in effective rents since opening.