West Side apartment complex undergoes renovation

on Monday, 28 July 2014.

Romney Group doing a complete top-to-bottom renovation, inside and outside

In the rental-home world, the word renovation can mean very different things. “Some companies buy an apartment complex, put in new light fixtures and say it’s renovated,” said Patrick Gray, property manager of the large Havenwood Townhome Community on the West Side. “We’re doing a complete top-to-bottom renovation, inside and outside,” he said of the work going on at the former Metro West complex, where 820 units are scheduled to be renovated by May 2016.

The Romney Group and other investors formed Havenwood and purchased the deteriorating Metro West located just west of Georgesville Road for $9 million in April, according to the Franklin County auditor’s office. The renovation and leasing of the complex is being done by Pierpont Management for Havenwood.

A Pierpont official declined to give the cost of the renovation.“Overall, it was in worse shape than we thought,” Gray said of the condition of the units. “Some had been vacant for 15 years.”The original plan was to renovate the existing 856 two-, three- and four-bedroom units.“The (36) four-bedroom units were in such bad shape, we had to tear them down,” Gray said, adding that they were filled with mold, broken windows and rotted drywall.

The two- and three-bedroom units will get new roofs, gutters and shutters and the exteriors will be painted. Inside, all the units are getting new tile floors in the kitchens and bathrooms, wood-laminate floors in the livings rooms and carpeting on the second floors. The kitchens will be updated with new refrigerators, stoves, cherry-wood cabinets and faux-granite countertops.

“We’ll buy about a million square feet of floor laminate,” Gray said. The entire property will be landscaped, including the addition of a 2.5-acre park.The renovation project began in May, and there are about 50 to 75 workers on site every day, Gray said.

The rent for a two-bedroom apartment is $735 a month, and a three-bedroom unit is going for $855 a month. This is about $75 more than the previous monthly rate. The 820 units are currently about 45 percent occupied.Employees at the nearby Hollywood Casino Columbus will get a discount: $720 for a two-bedroom unit and $840 for a three-bedroom unit. “The first round of renovated units will be done in early August, and all 15 are already pre-leased,” Gray said. “After that, we’ll be finishing 10 to 15 a week.”

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