High Demand for Newly Renovated Stratford Place
June 5, 2017
Makowsky Ringel Greenberg LLC recently completed the renovation of 36 apartment homes at Stratford Place, one of the company’s Midtown Place apartment communities under management. Interiors of the one and two-bedroom apartments located at 1806 Poplar Avenue, have been completely renovated and now include solid-surface countertops, stainless appliances, and in-unit washer/dryer, with additional features in certain units such as balconies, bay windows and French doors. Exterior improvements including a new parking lot and landscaping will be completed in the next few months. Rents, which compare very favorably to downtown developments and redevelopments, range from $995 to $1500.
According to Jimmy Ringel, chief operating officer, the company and its predecessor, Makowsky Ringel, Inc., have been involved in the Midtown community for more than 35 years. Today, MRG manages 9 different Midtown properties totaling 241 units. Each property has its own name, with Park Lane and St. Regis being the largest, but all, including Stratford Place, are operated under the umbrella name of Midtown Place and are leased from a single management office at Park Lane, located at 2095 Poplar Avenue.
The renovations on all 36 Stratford Place apartments have just recently been completed and all units have already been leased. “Our research prior to the project indicated that one of the most desired amenities was in-unit washers and dryers so we included those in the renovated apartments,” stated Ringel.
MRG currently owns and/or manages more than 30 apartment communities totaling more than 5,000 units in the greater Memphis area. MRG also has nearly 1 million square feet of commercial real estate under management with a focus on small to midsize industrial, retail and office properties.