ADIVO CONSTRUCTION BEGINS RENOVATIONS AT OASIS TOWER II
FORT MYERS, FLORIDA: Adivo Construction announced the commencement of renovations at Oasis Tower II in Fort Myers, Florida.
Located close to downtown Fort Myers, this 31-story building is currently comprised of 2 and 3 bedroom apartments. The controlled-access building offers five star amenities such as concierge services, resort-style pool with sundeck, grill and picnic areas, tennis courts, game room and fitness center.
There was difficulty in renting out the three bedroom floor plans, and after researching the current market, they realized why. The typical tenants for this area are young professionals, more so millennials than families, who don’t need the extra space.
Adivo has been given the task of converting the 3 bedroom apartments into a one bedroom with one and a half baths and a studio apartment. The overall aesthetic will be modern with flat panel cabinetry, sound-absorbing plank flooring, as well as upgraded hard surfaces and lighting fixtures.
By splitting the vacant 3 bedroom units into more attractive floor plans for the current market, it will drive increased occupancy. At the end of the day, this re-positioning will improve the property, the owners will earn more revenue since the more attractive unit configuration will be available, and most importantly it will increase NOI and ROI.
“We are looking forward to moving into the high-rise market with Oasis Tower II.” said Jeffrey Verchow, President at Adivo Construction. “The asset owners completed their market due diligence and will reap the benefits once this repositioning is complete.”
Track the progress of each of the projects on our website by visiting https://adivoconstruction.com.
About Adivo: Adivo Construction is a national self-performing general contractor with over 50 years of construction expertise specializing in the value-add improvements of apartment communities. Adivo has completed over 100 repositioning and renovation projects for publicly traded and privately held companies in Florida, Texas, Kentucky, Oklahoma, Georgia, South Carolina, North Carolina, Tennessee, Indiana, Michigan, Missouri, Arkansas, Utah, and Kansas. Services include, but are not limited to, interior unit renovations, clubhouse, leasing office and fitness center upgrades, interior and exterior painting, roofing, siding, windows and amenity upgrades. Learn more about Adivo Construction at https://adivoconstruction.com. Follow Adivo on LinkedIn, Facebook, and Instagram: @adivoconstruction.