THE EVALEE – PITTSBURGH, PA
An off-market transaction closed in April of 2019 (Formerly Dorchester Towers) is a 325-unit mid-rise Apartment community in the highly sought-after Bethel Park Borough of Pittsburgh, PA. Ava’s Construction is implementing a $6.8MM renovation of the exterior and interiors.
# Units | 325 |
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Capex ($k/Unit)
Capex ($MM) Percent Complete |
$20.9
$6.8 95% |
MOON GROVE – PITTSBURGH (MOON), PA
Closed in April of 2019 (formerly The Polo Club Apartments) is a 280-Unit Apartment complex in Moon Township, PA. Ava’s Construction has implemented a $5.3MM renovation program including an upgrade on all exteriors, amenities, and interiors.
# Units | 280 |
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Capex ($k/Unit)
Capex ($MM) Percent Complete |
$18.9
$5.3 95% |
THE VENUE – PITTSBURGH, PA
This mixed use 26 story high rise in downtown Pittsburgh was purchased as 625 Stanwix Tower and converted to The Venue. The property consists of retail storefronts, over 50,000 square feet of office space that Ava’s converted to 48 units and 95 existing apartments that underwent a luxurious $10.6MM upgrade. Improvements included all new windows, a roof top pool, urban bark park and paw spa, fitness center and more.
# Units | 143 |
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Capex ($k/Unit) Capex ($MM) Percent Complete |
$74.1 $10.6 100% |
THE LANTERN APARTMENTS – AUSTIN, TX
Ava’s Construction successfully combined two apartment properties to operate as one in Austin, TX. Formerly known as “Westwood Apartments” and “Audubon Square Apartments” the garden style communities consisted of 316 units. At purchase, Lantern had approx. 210 unrenovated units providing large scale upside through luxury renovations. Ava’s successfully renovated all the remaining interiors, and overhauled all of the amenities.
# Units | 316 |
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Capex ($k/Unit) Capex ($MM) Percent Complete |
$12.5 $3.9 100% |
THE HEDGE 1 APARTMENTS – AUSTIN, TX
Ava’s Construction converted this dilapidated Extended Stay Hotel in Austin, TX to apartments through a gut renovation. The process brough the entire Property up to code adding all new electrical and introducing a fire suppression system. Several common areas were converted to additional units and an all new pool, gym and leasing/business center has been introduced.
# Units | 226 |
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Capex ($k/Unit) Capex ($MM) Percent Complete |
$61.5 $15.9 100% |