The growth strategy is three-fold. Further optimize and benefit from the new renovations completed in 2015 and the continued growth in demand for student housing. Nelson Brothers believes many of these renovations were added following the prime leasing period and see a potential opportunity to raise rents, just with the existing infrastructure.
Second, there is wide open space in the center of the site. Nelson Brothers expects the city to approve an all-new residential clubhouse. The goals would be to construct a state-of-the-art, bestin- market clubhouse complete with large Flat screen TVs, Xbox, pool table, modern lounging space, hot tub and leasing office. Further, Nelson Brothers is looking to add new townhome style units in the second and third stories above the new clubhouse. Third, Nelson Brothers plans to re-purpose the current leasing office and clubhouse into revenue producing units. In total, the current goal is to potentially add up to 30 new beds with 10 new units. Overall, Nelson Brothers is aiming to add close to $500,000 in new revenue.