CLIENT: Signet Partners (HUD Housing Authority Provider)
LOCATION: Greeley, Colorado
ASSET TYPES: Multifamily residential
Greeley Manor Apartments is a HUD-funded, 128-unit senior living property. The building was originally constructed and occupied in 1974 and has since served as a vital affordable housing option for seniors and persons with disabilities in the Greeley community. Marx|Okubo’s team of professionals not only provided quantifiable added value to the client by identifying approximately $2,000,000 in major capital needs, but also worked cooperatively with tenants and building personnel to understand and provide corrective action plans for tenant health issues that had gone unnoticed by property management including bedbug infestations in eight units and sanitation issues in nine other units. In addition, Marx|Okubo’s energy audit identified that Greeley Manor Apartments is outperformed by 80% of similar HUD buildings in energy savings and 98% of similar HUD buildings in water savings and provided recommendations for modifications for improvements. As part of the capital needs assessment, Marx|Okubo identified green alternatives for capital replacements.