Lease-Up Strategy Business Plan

Development & Construction

The Blakely (“Property”) is a 420-unit, new-development garden-style apartment community. The Property began construction in 2021 and is made up of 1, 2 and 3-bedroom apartment homes and is located in Pendergrass, GA. The Blakely represents an excellent opportunity to acquire a new development community at an active basis. This business model was strategically set to have the community delivered in 4 different phases – Phase 1 (168 units) and Phase 2 – 4 (84 units each). Rather than awaiting the completion of the entire project to ensure a great customer experience and dedication to finished product, the community was staggered to bring on a new phase each quarter. Each deliverable – from units, common areas, buildings and amenities – enter a quality control program to ensure longevity and consistency. The quality control inspector is a representative of ARC Multifamily and is engaged prior to acquisition. Through this process, we are able to ensure a great experience, increasing retention post-stabilization, minimize labor and replacement costs and deliver a product under our operations that continue to build a brand and reputation..

Leasing + Operations

With the leasing center, amenities and units under development, the ARC management team is already on the site daily meeting with potential new neighbors for the community. Maintaining a bank of leads, infusing extra marketing costs to boost an online presence and marketing to the abundant businesses nearby, the team was able to increase the rents. Forward-thinking, we are deploying a revenue management software that will drive rents as well as manage the lease expirations. Lease expiration is often a key-component that is missed on a lease-up end and operators find themselves in a bind when their exposure becomes too high on year two in critical months. In terms of driving interest for the community, the management team is capitalizing on the inflation of Atlanta’s rental market and utilizing all avenues to drive the demand north towards The Blakely. Understanding that up-front concessions are utilized in virtually all lease-ups, our goal is to keep a heavy pulse on the activity and only deploying this tool when necessary to continually push effective rents to as high as the market allows, with no money left on the table.

Creating an Experience

Running parallel to the living options offered at The Blakely, the resident experience will be nothing short of extraordinary. It has been proven that service alone drives rents; and coupling this with high-end product finishes and amenities, The Blakely is projected to yield higher returns. Residents will be able to access most amenities 24/7, enjoy fitness classes, meet neighbors through elevated resident events and contact a member of our management team and feel heard. Through this increased retention, the online reputation of the community will be optimized, and the rents will continue to grow at a much more rapid pace.