NORFOLK, Va., Sept. 14, 2021 /PRNewswire-PRWeb/ -- Ideally located off Hampton Blvd and with close proximity to Sentara Norfolk General, CHKD, downtown and the naval base, The Point on 38th is PRG's newest 100% preleased property. The bold brick and modern metal design offers residents unparalleled luxury living just steps from Old Dominion University.
Due to Covid-19, some uncertainty lingered as the Point on 38th, led by Regional Director, Jayme Presley, and Property Manager, Laura Mills, entered the lease-up process. But with effective teamwork, an innovative marketing strategy, and on-time delivery, the property was 100% preleased in five short months, a record for PRG's new developments!
Just four weeks after opening, the property is 71% physically occupied and 97% preleased. In another 30 days, the property will be fully occupied.
PRG has several new development projects in the pipeline scattered throughout Virginia's various sub-markets including: The Constellation in Hampton, a 153-luxury apartment community; Hydro, a midrise in the Manchester neighborhood of Richmond; and 500 Merrimac Trail - PRG's first hotel-to-apartment conversion project. These new developments are just a handful of 10+ development projects PRG has in the development pipeline with their Richmond-based development team WVS.
About PRG Real Estate:
PRG Real Estate owns and manages more than 11,000 apartment homes throughout the United States. With over 30 years of successfully transforming communities, its 300 associates remain dedicated to providing residents with a great place to call home. For more information on PRG Real Estate, please visit PRG Real Estate.
Media Contact
Sarah Wieman, PRG Real Estate, 2157441200, [email protected]
SOURCE PRG Real Estate
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