FARMINGTON HILLS, MI – Village Green has released the results of its First Annual National Renters Index, a nationwide survey of residents regarding their attitudes toward the rental market. The survey uncovered a growing trend: Renters are becoming more selective and amenity-driven, especially if those amenities make residences feel like right homes. Throughout the index, only price and location were mentioned as more-vital factors in housing decisions.

With trends such as micro-units and co-living housing growing in popularity, 48 percent of millennials stated interest in paying more for “high-end property amenities.” More specifically, millennials said they were willing to spend more for properties outfitted with smart-home technologies (45 percent) and high-end facility amenities such as concierge service and/or a coffee bar (49 percent).

“The feedback from this National Renters Index serves as a call to us all that we need to be listening to our current and prospective renters about the amenities and experiences sought from their next rental experience,” remarked Diane Batayeh, CEO of Village Green. “To maximize resident satisfaction, we need to insure Renters carry the belief that they are getting a special experience and living in an environment filled with sought after amenities and the feel of home.”

The National Renters Index also provided insight into where renters are looking for referrals and reviews as part of their search. Notably, 45 percent of renters said using third-party rental websites was vital for their search, while 40 percent of renters mentioned online review sites as key resources and influencers for their housing hunt. This highlights the increasing importance of effective social media strategies, both proactive and reactive.

The first Village Green National Renters Index was conducted online, surveying 1,000 paneled respondents in seven core markets across the country (Atlanta, Chicago, Dallas, Detroit, Minneapolis, Phoenix and Philadelphia). The survey was conducted using ResearchNow and SurveyMonkey polls in February and March 2017. In order to qualify for the survey, respondents were required to be active renters in a residential property.

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WEST FARGO, ND – New Perspective Senior Living announced that it is officially opening the doors of its West Fargo development to new residents. New Perspective – West Fargo is the second senior community the company has opened within the last two months, and its first in North Dakota.

“We see the Fargo-Moorhead senior population as an under-served market, “said Ryan Novaczyk, New Perspective Senior Living President and CFO. “We have something unique to offer this group, and we are excited to bring our programs, services and amenity-rich building to this community.”

The 130,000 square-foot development, located at 645 33rd Ave East, features a total of 131 apartments with a mix of 83 independent and helped living options. The separate Betty’s Harbor memory care neighborhood that accommodates up to 48 residents opened earlier this spring on May 8. When fully staffed New Perspective – West Fargo is expected to use approximately 100 team members.

The community boasts a variety of amenities for the comfort, convenience and entertainment of its residents and their guests. The West Fargo development has a full-time chef with three different dining options, including a restaurant-style main dining room, a café featuring Starbucks coffee while serving breakfast and lunch, and The Rough Rider pub serving beer and wine with bi-weekly pleased hours. Other features of the community include a dance hall hosting weekly classes, a fitness center designed for seniors, a large heated pool kept at a constant 93-degrees offering water aerobics and swim classes, an onsite beauty salon, plus a community room for entertainment, events and gatherings.

These amenities support the company’s Four Pillars approach to senior living. The pillars seek to enhance residents’ quality of life through physical fitness, brain fitness, social and spiritual enrichment, as well as appetite-stimulating dining experiences.

This is the second community that the Minnesota-based company has opened in the last two months. In July, New Perspective Senior Living assumed operations for Red Rock Senior Living, a 77-unit residence in Woodbury, Minn., rechristening it, New Perspective – Woodbury.

“New Perspective Senior Living is about helping seniors live and age successfully,” noted Chris Hyatt, New Perspective Senior Living Partner and Chief Operating Officer. “To see a 90-year-ancient resident who is vibrant and active and truly enjoying life is incredibly inspiring – and we help countless residents do exactly that.”

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ATLANTA, GA – San Francisco area based Praxis Capital announce that it has bought the 198-unit Class B Birch Run Apartments in Clarkston, Georgia. This is the company’s first acquisition in the Atlanta metro. Praxis plans to build a portfolio of approximately 2,000 units in this market.

The Praxis executive team, possessing more than $6.3 billion of transactional experience in the multifamily sector, including institutional management of more than 90,000 apartment units, seeks to build a large portfolio of Class B/C workforce housing, consistently unlocking embedded value in multifamily real estate. Praxis also looks to expand its relationships with Family Office and Institutional JV Equity sources.

Using the conservative underwriting and extensive due diligence for which Praxis is known, the firm performed an exhaustive search before seizing this high potential opportunity. “Atlanta is one of top performing apartment markets in the country, and Clarkston has one of the lowest vacancy rates in the metro, making this an ideal value-add play,” says Brian Burke, President of Praxis Capital. “We’ve had tremendous success employing similar strategies with properties in other states and this property holds promise for brilliant cash flow with upside potential. We foresee this as a very desirable property for both our residents and investors.”

The Class B Birch Run Apartments offers a tremendous value-add opportunity. Built in 1983 and situated on over 10 acres, the 23-building property has 198 two-bedroom units, ranging from 1,070 to 1,245 square feet, each with a unique sunroom.  Praxis plans to invest $3 million to renovate and upgrade the property. The property is being managed by Praxis’ wholly-owned subsidiary, PM Residential Management LLC.

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