CLEVELAND, (April 21, 2015) – JVM Realty Corporation announced today that it has completed the first phase of an extensive $4.5 million renovation of its Dover Farms Apartments in North Royalton, Ohio, boosting the availability of high-quality housing options for local residents.
The first phase of renovation includes the property’s Clubhouse and common areas. The second phase – which focuses on renovating each apartment home – is also now underway. Re-launching the 300-unit Dover Farms property is a major step in JVM’s commitment to Ohio. The multi-family real estate investment and property management company also owns and operates three other apartment developments in the Cleveland area, as well as an apartment building in nearby Columbus, Ohio.
“We see a growing need for luxury rental homes in the Cleveland market, as the Midwest economy continues its recovery,” said Jay Madary, President and CEO of JVM Realty Corporation. “Civic leaders, including the Greater Cleveland Partnership, are doing a great job in spurring job growth and economic development. It is important that high-quality housing is not a constraint on future growth and there is adequate availability both for the existing market and for companies moving executives into the area.”
Madary added: “The decision to renovate at Dover Farms is a departure from the divestiture strategy envisaged when we purchased the property eight years ago. We now see very little new apartment development in suburban Cleveland – and at the same time there is strong and growing demand for upscale rental housing. With good fundamentals, the property really lent itself to a renovation. By moving quickly to execute our strategy, we are creating a win-win: providing residents with state-of-the-art luxury living and investors with improved returns.”
Madary said resident feedback on the first phase of the renovation has been excellent, with the newly designed and renovated Clubhouse receiving particularly high marks.
As part of the renovation, JVM Realty has introduced key signature innovations including ‘Parcel Pending,’ which securely stores packages and allows on-the-go residents pick them up on their schedule, 24 hours a day. Residents can enjoy numerous unmatched community amenities including a brand new 2,321-square-foot, state-of-the-art fitness center with ‘Well Beats’ interactive personal fitness programs. The center will be accessible to residents 24 hours a day. There is also a new resident lounge with cyber café, access to the business center and extended hours of availability to residents (6:00 a.m. to 10:00 p.m.). The renovations have transformed outdoor areas too, including a newly expanded sundeck by the pool. Dover Farms is a pet-friendly apartment community with numerous pet stations and a completely fenced, on-site pet park.
The six spacious floor plans at Dover Farms offer all the comforts of home, nestled among mature trees and picturesque rolling terrain. Each apartment is being renovated from top to bottom to include natural looking wood flooring, chocolate cherry cabinetry, and all new stainless-style appliances. The one-bedroom apartments feature oversized windows, a stackable washer and dryer, and private patios with extra storage space. The two-bedroom apartments offer the luxury of open living and dining rooms, a full-sized washer and dryer, and wood-burning fireplaces. The flagship ‘Brookwood’ floor plan will feature beautiful, decorative cathedral ceilings and a private studio-sized upstairs loft. To date 75 apartments have already been renovated with the balance expected to be completed over the next 18 months. Work is being appropriately phased to avoid inconvenience for residents.
An online payment system and 24-hour emergency maintenance give residents added comfort. Dover Farms also features Engrain – a web-based interactive tour for potential residents to utilize while visiting the leasing office.
Dover Farms is situated minutes away from Interstates 80 and 71 and close to the South Park Mall and the North Royalton Memorial Park. Also nearby is an award-winning public education system which includes Royal View Elementary School, North Royalton Middle School, and North Royalton High School.
On Wednesday, May 27, local dignitaries will join JVM Realty leadership at a ceremonial ribbon cutting event at Dover Farms to celebrate the renovations and re-introduce the space as a quality housing option to the community.
For more information about the Dover Farms property visit www.doverfarmsapts.com or ‘like’ the page on Facebook.
JVM Realty Corporation is a respected name in the Midwest as a leader in multi-family real estate investment and property management. Now in its 40th year, JVM is committed to excellence and integrity and strives to be the preferred choice for its investors, residents and associates. Based in Oak Brook, it operates a $500M multi-family portfolio in the greater Midwest, including Illinois, Indiana, Kansas, Missouri, Michigan, Ohio and Oklahoma. For more information about JVM Realty Corporation, visit www.jvmrealty.com