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Creating repurposed residential or retail properties requires marketing and management savvy to provide returns for owners and amenities for occupants. HRI Management Company, which repositions residential, commercial and industrial space, views urban revhalization as a natural alternative to suburb...

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Bibliographic Details
Published in:Journal of Property Management 2004-01, Vol.69 (1), p.46
Main Author: Kreisler, B
Format: Article
Language:English
Subjects:
Affordable housing
Apartments
Business conditions
Historic buildings & sites
Historic preservation
Low income housing credit
Marketing
Moving & housing expenses
Nonprofit organizations
Property management
Real estate
Repositioning
Retail stores
Site planning
Tax credits
Tenants
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Summary:Creating repurposed residential or retail properties requires marketing and management savvy to provide returns for owners and amenities for occupants. HRI Management Company, which repositions residential, commercial and industrial space, views urban revhalization as a natural alternative to suburban sprawl and focuses its activities on adaptive reuse of historic districts. While the development opportunity is exciting, the reality is it demands people share HRI's pioneering vision, often difficult when a property is located in a decayed area. Last June, Community Housing Initiatives, Inc., a nonprofit group dedicated to the expansion of affordable housing in Iowa, completed the Van Alien Apartments, a conversion of a National Historic Landmark building designed by famed architect Louis Sullivan in the small city of Clinton. Unlike many of HRI's projects, the limited supply of units and the lasting appeal of its famous designer made marketing the Van Alien an easy task with the units fully leased well before its occupancy date.
ISSN:0022-3905