Olive Tree Holdings, a mission driven private investment company with a focus on real estate, today announced a $3.7 million comprehensive capital improvement initiative at The Life at Legacy Fountains, a 244-unit multifamily community located at 1520 E. 97th Street in Kansas City, Missouri. Capital improvement efforts are currently underway and are slated for final completion by Q2 of 2023.
“We’re thrilled to be deploying capital improvement efforts across The Life at Legacy Fountains, a community situated within a market that is continuously experiencing job market growth and welcoming new residents,” said Ian Bel, Managing Principal and Chief Executive Officer of Olive Tree Holdings. “Providing elevated living experiences to our tenants is of paramount importance, and we are constantly looking for new and exciting amenities, programs, and offerings to implement across our properties.”
The Life at Legacy Fountains consists of 216 spacious apartment residences, a mix of one-, two- and three-bedroom units and 28 townhouse-style duplex residences, equipped with ample closet space, hardwood flooring, carpeted bedrooms, air conditioning capabilities and private patio spaces across select units. Interior residence upgrades consist of flooring revamps, new countertops and kitchen appliances, new paintwork across cabinets and low-flow toilet retrofits in efforts to conserve water and create sustainable impact
Exterior and shared resident amenity spaces at the community consist of a barbeque and picnic area, a swimming pool, on-site laundry offerings, a fitness center, a resident clubhouse and business center, a children’s playground and outdoor walking and bike trails. Upgrades to these spaces consist of LED lighting implementations, exterior paint, foundation work, sidewalk refurbishing, parking lot and fireplace repairs as well as landscaping upgrades. As the capital improvement program nears completion in Q2, the next upgrades to take place will include clubhouse renovations with an added fitness center, the implementation of a kitchen space with a vaulted ceiling, and the addition of a pool table.
Situated in Kansas City within the Linden Hills and Indian Heights submarkets, residents have close access to the myriad of shopping, food and beverage, entertainment and retail offerings that Kansas City has to offer, with the Blue River Commerce Center (a 1M+ square foot retail center) currently being constructed nearby. Additionally, the community benefits from its close proximity to major area roadways and higher education offerings including I-435, I-49 and Columbia College.
Since Olive Tree Holdings’ inception in 2017, the firm has acquired and transformed over 16,000 units of workforce and affordable housing communities across 8 states. With each multifamily acquisition, the firm maps out a tailored capital improvement program that will revitalize the property, amenities, and units, which elevates the lifestyle of residents and has a positive impact on the local community.