Statesboro's tallest building and local landmark, the Summit Apartments, is undergoing a $4.2 million renovation encompassing both the inside and outside. Purchased this past April by the Ambling Companies based in Valdosta, Ga., the six story building on North Main Street is losing its minimalist, institutional facade in favor of a warmer, more appealing outer shell in conjunction with a complete interior overhaul.
When the renovations are completed, Ambling will have spent in excess of $6 million dollars for the building, property, and upgrades.
Ambling spokesperson, Elizabeth Horner said her company recognized the continued demand for low income housing in Statesboro and felt the Summit was an excellent investment.
"Through market research and due diligence, Ambling Development Partners realized the need for affordable housing in the Statesboro area," Horner said. "In addition, the property is centrally located on a major corridor."
According to Horner, the Summit serves low income residents that are disabled or are age 62 and older. She said the Summit is a HUD insured mortgage property and the equity is provided thought the allocation of Low Income Housing Tax Credits allocated by the Georgia Department of Community Affairs.
Esther Wells has managed the 53,000-square-foot apartment building since 1987. Wells said the changes have been incredibly positive.
"From the complete interior renovation, to the addition on the front, the changes are so wonderful, and were really needed," Wells said. "Everything is being painted and carpeted and redone. I'm thrilled, and the tenants are thrilled."
One of those happy tenants is 89-year-old Eloise Thomas, a resident of the Summit since 1979.
"I love what they have done," Thomas said. "Everything is going to be so very nice. This is the best place that I have ever lived. I must love it, because I have lived here for so long."
A number of residents couldn't wait to voice their approval of the renovations.
"I love it, I love it, I love it," said Annie Wright, a tenant of the building for the last year. "We have new bathrooms, kitchen appliances, carpeting and paint. It is all so great. Our apartments are now handicap accessible as well."
Interior renovations of the 52,700 square foot apartment building involved a complete makeover of each apartment kitchen and bathroom, total renovation of the common areas, painting of all interior and exterior surfaces, and new carpet throughout the hallways and apartments. Also, an addition to the front entry will result in a larger community room, and a new exercise room and computer room.
The Ambling Company now oversees three properties in the Statesoboro area. In addition to the Summit, Ambling owns and manages the Lower Lotts Creek Apartments on East Jones Street, and manages the Campus Courtyard Condomiums which are in close proximity to Georgia Southern's campus.
Horner said Ambling will continue to monitor the Statesboro market in search of new opportunities but had to no plans at this time to expand their presence in the area.
The Ambling brand was born in 1995 with the creation of Ambling Development Company. Today, the Ambling organization is comprised of five independent divisions committed to providing the best in real estate development, construction and management services within a wide variety of markets. To date, Ambling Management Company's portfolio includes over $1.7 billion in assets and 25,935 units nationwide including the Summit.
Horner said renovations on the Summit should be completed in February at which time a grand reopening will be scheduled.
When the renovations are completed, Ambling will have spent in excess of $6 million dollars for the building, property, and upgrades.
Ambling spokesperson, Elizabeth Horner said her company recognized the continued demand for low income housing in Statesboro and felt the Summit was an excellent investment.
"Through market research and due diligence, Ambling Development Partners realized the need for affordable housing in the Statesboro area," Horner said. "In addition, the property is centrally located on a major corridor."
According to Horner, the Summit serves low income residents that are disabled or are age 62 and older. She said the Summit is a HUD insured mortgage property and the equity is provided thought the allocation of Low Income Housing Tax Credits allocated by the Georgia Department of Community Affairs.
Esther Wells has managed the 53,000-square-foot apartment building since 1987. Wells said the changes have been incredibly positive.
"From the complete interior renovation, to the addition on the front, the changes are so wonderful, and were really needed," Wells said. "Everything is being painted and carpeted and redone. I'm thrilled, and the tenants are thrilled."
One of those happy tenants is 89-year-old Eloise Thomas, a resident of the Summit since 1979.
"I love what they have done," Thomas said. "Everything is going to be so very nice. This is the best place that I have ever lived. I must love it, because I have lived here for so long."
A number of residents couldn't wait to voice their approval of the renovations.
"I love it, I love it, I love it," said Annie Wright, a tenant of the building for the last year. "We have new bathrooms, kitchen appliances, carpeting and paint. It is all so great. Our apartments are now handicap accessible as well."
Interior renovations of the 52,700 square foot apartment building involved a complete makeover of each apartment kitchen and bathroom, total renovation of the common areas, painting of all interior and exterior surfaces, and new carpet throughout the hallways and apartments. Also, an addition to the front entry will result in a larger community room, and a new exercise room and computer room.
The Ambling Company now oversees three properties in the Statesoboro area. In addition to the Summit, Ambling owns and manages the Lower Lotts Creek Apartments on East Jones Street, and manages the Campus Courtyard Condomiums which are in close proximity to Georgia Southern's campus.
Horner said Ambling will continue to monitor the Statesboro market in search of new opportunities but had to no plans at this time to expand their presence in the area.
The Ambling brand was born in 1995 with the creation of Ambling Development Company. Today, the Ambling organization is comprised of five independent divisions committed to providing the best in real estate development, construction and management services within a wide variety of markets. To date, Ambling Management Company's portfolio includes over $1.7 billion in assets and 25,935 units nationwide including the Summit.
Horner said renovations on the Summit should be completed in February at which time a grand reopening will be scheduled.