Our steadfast staff met head-on the unique challenges presented in 2022 and have allowed Crestline Property Management to flourish. We would like to share some of our accomplishments from the past years as we look forward to new opportunities in 2023.
The new property in Union City, Indiana, Backstay Lofts, was 100% leased up this year after hand-off from our partners at Construction. Developed by AP Development, Backstay Lofts is a repurposing of the historic Backstay Welt Factory. Long abandoned, the building had become an eyesore. But the with new apartments with convenient location, Backstay now represents a boon for the residents.
In Evansville, Indiana, Central Lofts also achieved 100% occupancy after the ribbon cutting earlier this year. Also developed by AP Development, Central Lofts occupies the former YMCA building across from the old courthouse downtown. Our partners at Crestline Construction completed the rehabilitation. Another example of turning old into contemporary, usable space, Central Lofts has already changed the landscape of this urban center as further plans for economic development in the area are organized.
New opportunities arose in Terre Haute, Indiana at Trail’s Edge Apartments. Made up of market-rate townhomes and apartments, Trail’s Edge provides a variety of living options with easy drivability in town. The assortment of units provides ideal situations for families, young professionals, or students. Our team has been working to lease-up the property having acquired the management rights this past autumn.
With the developing market in Greenwood, Indiana, we have begun the push of moving Village Crossing out of tax credit designation and into market rate. The growth of the years in Greenwood and at Village Crossing represent the realization of previous vision for the area. We are excited to see our endeavors continue to grow with the local community and look forward to further progress
We had the opportunity to successfully complete the lease-up of the new affordable property in downtown Indianapolis: Union at 16th. Though the property presented distinct challenges, our team was able to exceed all projections and complete the lease up much quicker than anticipated.
Every year we have our annual Crestline Extravaganza, bringing together the managers and maintenance technicians together in Indianapolis for two days of training and team building. Our properties are spread across the Midwest, and the extravaganza provides a chance for our teams to share time together and learn from each other’s experiences. It is always a delight to see everyone in one place and reinforce that, even though geographically apart, we are one team is support of each other.
Check back in 2023 as we prepare many exciting nee announcements. Though we know difficulties will arise, we are confident on our ability to achieve great feats. The future is bright, and we are enthusiastic about the opportunities for Crestline Communities.
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