The Life Properties,the property management and construction management affiliate of Olive Tree Holdings, a mission-driven private investment company with a focus on real estate, today announced the completion of a $4 million capital improvement initiative at The Life at Beverly Palms, a 308-unit, multifamily community in Pasadena, Texas.
“We’re thrilled to be celebrating the completion of the capital improvement program at The Life at Beverly Palms” said Jamin Harkness, President of The Life Properties. “With a primary mission of enhancing the quality of life for our residents, we’re proud to be delivering an upgraded community to Beverly Palms residents as well as the larger Houston-metro community.”
Interior elements of the capital improvement program at The Life at Beverly Palms included select in-unit upgrades, new paint, and window replacements across the property. Exterior improvements have encompassed sidewalk and concrete repairs, landscape improvements, roof repairs, security system upgrades, new paint, and a series of repairs to the LED lighting across the property. Additionally, repairs were made to the shared resident amenity spaces including the community room, pool and picnic area, laundry center, dog park and children’s playground.
Additionally, The Life Properties continues to closely collaborate with residents of The Life at Beverly Palms, providing them with programs like Stake and Flex. These initiatives are designed to enhance the financial stability and housing security of residents. Stake provides renter wealth creation through cash back rewards for on-time rent payments and savings account growth. Flex facilitates flexible rent payment options, helping residents avoid late fees or eviction filings when needed.
Built in 1971, The Life at Beverly Palms offers a mix of one-, two- and three-bedroom residences, all inclusive of fully equipped kitchens with granite countertops, modern fans with overhead lighting, and spacious walk-in closets in the bedroom areas, as well as on-site maintenance and a laundry center. The community is conveniently located just minutes away from a variety of neighborhood shopping, greenspace and golf offerings.
Established in 2017, The Life Properties has managed Olive Tree Holding’s lifetime portfolio of over 16,000 units of workforce and affordable housing. The team has managed over 4,400 units of affordable housing across 18 properties and has overseen the allocation of $250 million in capital expenditure funds throughout the lifecycle of 54 investments.