We have taken many of the qualities people love about owning a home and have injected them into an affordable, maintenance free living environment.
Saint Louis, MO (PRWEB) May 31, 2013
As home values remain stagnant, many American families are choosing to rent in lieu of purchasing a home. According to the U.S. Commerce Department, the national homeownership rate for the first quarter of 2013 sunk to its lowest level in the last 17 years—65.2 percent. The Buck Companies, a St. Louis-based developer and property manager, has seen the demand for multi-family apartment housing catapult over the last three years, producing a strong real estate investment for the firm.
“Our firm has created a residential neighborhood that is wholly unique to the St. Louis apartment community,” said Kenn Grasse, owner of The Buck Companies. “We have taken many of the qualities people love about owning a home and have injected them into an affordable, maintenance free living environment.”
By investing more than two million dollars in renovations to their 80-unit apartment community in Ballwin, Westglen Village Apartments, The Buck Companies has been able to help bring the comforts of home to their complex. These upgrades include: washers and dryers in select units, assigned covered parking, new appliances, roofs, gutters and kitchen countertops. In addition, the secluded residential community is nestled among 17 wooded acres, equipped with newly enhanced trails for both hiking and mountain biking. As a result, the firm has benefited by not only attracting quality residents, but lowering their vacancy rate below 5 percent.
In conjunction with low vacancy rates and long standing residents, the investment in high-caliber apartment housing has become increasingly profitable for The Buck Companies. With occupancy rates at many St. Louis office and retail spaces hovering around 50 percent, the firm has been able to uncover a more stable venture for the current real estate climate.
“Once the banks sell off all of the foreclosed lots, the cost of housing will skyrocket,” said Grasse. “Renting affords people the opportunity to bank the money they would be spending on maintaining a house, allowing them to create a healthy nest egg for their future.”
About The Buck Companies
The Buck Companies, founded in 1995 by Kenn Grasse, has a vision to build unique properties with an emphasis on creating special environments that afford a relaxed, open atmosphere in which to live and work. Grasse was inspired by his own desires to have a place to live that allowed him to enjoy the outdoors with special landscaping, patios, balconies and special amenities all in attractive settings. For more information about The Buck Companies visit http://www.thebuckcompanies.com.