MULTIFAMILY MONDAY
Ginkgo just bought an aging, 236-unit Durham apartment project called Yorktown Club for almost $6M and is now spending about $8M on energy efficiency renovations. The total cost per unit ($56k) is worth it, according to Ginkgo?s Phil Payne, a featured panelist at our Sept. 26 Bisnow Sustainability Summit. (Crazy low early bird prices if you register now.) | ||
 | ||
The expense, Phil says, is expected to yield ?robust returns.? (Returns so robust, they will need to get a new belt.) Renovations include new roofs, windows and exterior doors, as well as new exterior walls and floor coverings. Ginkgo is also swapping out all old appliances with new energy-efficient models, Phil says. The total cost of the renovation will come to about $32k/unit. Want to hear more about this deal and others? Join us for our BisnowSustainability Summit, Sept. 26 at the Westin Charlotte. | ||
