In late December of last year, Welsh Construction began the demolition and renovation of Fountain Place, a multifamily development located in Eden Prairie, MN. Fountain Place is just one of five similar projects in Welsh Construction’s pipeline of multifamily redevelopment projects. This is a current trend we are seeing with older multifamily developments built in the 1980s or 1990s. In order to stay current and competitive in today’s market, many landlords and owners are choosing to update or add amenities to shared tenant spaces.
Fountain Place’s renovations include the remodel of a racquetball court into a common area and fitness center, updated fixtures and a new lounge fireplace will be added. Nine, new, large windows will be installed to bring in more natural light into common areas. Exterior updates include the addition of a large patio, fire pit and grill station that all connects to a revitalized pool deck.
In addition to cosmetic upgrades, Fountain Place’s mechanical systems will be upgraded and a total remodel of existing office space with the creation of a concierge desk will also occur.
Projects following this trend are often interested in renovations that include:
- Opening up spaces by removing walls and adding glass
- New modern finishes
- New light fixtures
- Removing enclosed business centers and replacing with open WiFi lounges
- Expanding fitness areas with 24/7 access
- Updating bathrooms to be ADA compliant
- Expanded outdoor amenities that include dog runs, grilling areas, and walking trails
Landlords and owners looking to renovate and update their properties to compete with new construction benefit from working with experienced contractors with multifamily remodel experience who understand the design-build process and are comfortable partnering directly with their interior designers. Fountain Place’s remodel is expected to be completed by early summer 2017.