We are thrilled to share our first 1-Day Rapid Renovation time lapse video featuring our Knollwood Portfolio project.

We have been working diligently to streamline our renovation system over the past year, with a target of renovating an entire apartment in just one work day. Thanks to our construction manager, Jake, as well as VREC Principal Matthew Henderson, the system is nearing completion.

The ability to renovate an apartment in a day can expedite the timeline of our projects. In the past, we often waited for resident turnover to complete a renovation. We would renovate a few units a month and it would take 18-24 months to renovate the entire community.

With this new system, we can renovate a unit while the resident is still living in the apartment, cutting down the process from 18 to 6 months. With a team of 8 craftsmen, a rapid renovation starts at 8 AM and concludes at 6 PM. The resident will go to work, maybe go to the gym or happy hour, and come home to a new apartment!

Expediting the renovation process at a community enables us to accelerate the repositioning process, which of course improves returns for our investors. Ultimately, we are transforming dated properties into modern communities, and the faster we can do that with quality, the better for our residents (less construction disruption + upgraded apartments), our teammates (easier to lease beautiful new apartments) and our investors (earlier/better cash flow).

Great work to Matthew, Jake, and our construction team - amazing progress!