Development & Acquisition
Burkely Communities is a classic owner-operator. Development and acquisition are the paths we take to building our owned-portfolio—and the underpinning of both is Burkely’s long-term investment horizon. It yields decisions—whether in the development process, renovating/repositioning an acquisition, or in the management of either—that are far more likely to create value and better options over time to convert created value to cash. With either development or acquisition, Burkely engages in a disciplined process grounded in three decades of experience for both its own account and for like-minded clients and investors.
Burkely’s Team has experience in the initial development conventional multi-family, student housing, mixed use communities, as well as the renovation and repositioning of vintage conventional multi-family communities.
Our Development Services
- Market Analysis
- Detailed Financial Underwriting
- Planning and Project Conceptualization
- Zoning and Entitlements
- Project Management
Burkely understands the importance of taking advantage of an opportunity in an attractive market. We have an experienced team in place to assist you as you navigate the complex task of planning and developing a new community.
The goal was to create an exceptional community that Appalachian State University students would find appealing. Highland Crossing’s unique design and proximity to campus made it an especially attractive offering. After completing Highland Crossing in 2013, Burkely Communities realized market conditions in Boone were favorable for a sale or partnership. The market’s positive response to Highland Crossing made it apparent that a sale was an attractive option. Years later, the property is still using programs we implemented.
Burkely actively studies the market and evaluates acquisition deals through deep analysis to insure the maximum return on investment.
Burkely Communities has a long history and reputation for not only renovating interiors and exteriors, but also re-positioning the asset in the market to ensure maximum return on investment. This is done by extensive research of the market and formulating the “ideal resident” profile who will want to live in the newly renovated community. Our services include: market and feasibility studies, due diligence, and full renovation coordination and oversight.
In 2015, Burkely undertook a major renovation/reposition project at Jamestown Village, a 72-unit, early ‘70s vintage property. Its location, unique layout, and good original construction-quality made it a great value-add candidate. Two buildings suffered from foundation settlement issues, making them demolition candidates. Burkely renovated the remaining seven buildings (whitewashing the exterior brick, replacing windows and three roofs, and fully upgrading the apartment interiors). With renovation underway, Burkely successfully rezoned the property to allow up to 86 total units and a clubhouse/community center. In addition to the new clubhouse, the rezoning/demolition allowed for two new residential buildings (comprised of 30 one-bedroom apartment homes) to be built. Today, the aptly renamed Courtyard Commons attracts residents who value community, the walkability and friendliness of small-town living, and easily drivable proximity to Greensboro and High Point.
Better Living. For Rent.
Want To Work With Us?
We pride ourselves on being a people-centered organization, so our priorities begin with you. We are happy to answer your questions and start a conversation about how Burkely Communities can provide a superior management experience.