Ellipse Urban Apartments in Peninsula Town Center Leases More Than 100 New Apartment Homes in 60 Days

NEWPORT NEWS, Va., Oct. 12, 2021 /PRNewswire-PRWeb/ -- Luxury, in the form of a high-end fitness studio, upscale outdoor living, an urban pet spa, meticulously designed floor plans, chef-inspired kitchens, spectacular city views, and more awaits at Ellipse Urban Apartments. Offering studio, one, and two-bedroom floor plans plus a handful of three-bedroom apartments, the 287-unit Ellipse Urban Apartments are spread out across five residential buildings and boast interior features such as full-size WiFi-enabled smart washers and dryers, Keyless Smart Lock access to apartments, and open living spaces. Named for the circular shape of the community, "Ellipse" carries that theme throughout the property including exterior finishes that create an arch on the side of the building. It's truly a sight to see; a fixture on the interstate of grandeur and beauty, inspiring renters to LIVE CENTRIC.

Pre-leasing efforts were record-breaking, having more than 100 of the brand new apartments leased in the first 60 days and the community 100% leased in just over four months. Initial move-ins began in the spring, and the Ellipse team worked hard to keep up with consumer demand, working daily with contractors to deliver on the remaining apartments even sooner than planned.

DF Multifamily, a division of Drucker + Falk (DF), one of the nation's most prominent multifamily management companies, assumed not only the management of Ellipse Urban Apartments, but also acted as development consultants from the project's infancy. Some results from the early onset of DF's involvement were a memorable amenity program for residents and on-target branding throughout the community on both a large scale and in small details.

"We were excited about the opportunity to work closely with the owners and developers for this exquisite apartment community. DF was approached about this community well before construction began and the teams worked incredibly hard to deliver a lightning-fast lease up in addition to bringing the overall vision for Ellipse to life. The community is beautiful, and we knew it would be a local sensation, but we are thrilled beyond belief by the response and are excited to add this forward-thinking community to our portfolio," said Deidre Brown, Drucker + Falk Multifamily Management Director.

"This is one of those developments where DF was brought in at the very first stage of planning and we could not be happier that that was the case," says Wendy Drucker, Managing Director of Drucker + Falk. "I can proudly say that the success we've seen in the incredible lease up and general interest in Ellipse by the community at large is a direct result of the passion, creativity, and out-of-the-box thinking from the team members involved. Creating this multifamily community and filling it so quickly will be one of our most memorable projects. The fact that it is located in the company's backyard and we were able to help bring a community this exceptional to the area just takes the pride we have to a whole other level."

ABOUT DRUCKER + FALK

Founded in 1938, Drucker + Falk is a full service real estate and investment firm managing a diverse portfolio of nearly 40,000 apartment homes and approximately 3,000,000 square feet of office, retail and industrial space in 12 states. In addition to managing a broad range of properties, including class A+ to affordable apartment communities, mixed-use and all types of commercial properties, Drucker + Falk partners with clients on developing new properties, renovating and repositioning assets, converting historic properties to unique, upscale apartment homes and offers commercial leasing and sales services. For more information visit Drucker + Falk.

Media Contact

Amanda McCrowell, Drucker + Falk, 757-406-1187, [email protected]

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