At times, we can’t find the perfect property, well suited for a value-add investment. But we cancreate the perfect property, and frequently at a lower cost than acquiring an existing asset.
Development is not new to Lloyd Jones. The firm’s predecessor companies were once among the most prolific tax credit developers in the country. Their projects included numerous award-winning historic renovations, senior and family apartment communities, luxury condominium projects, and more than 20 facilities for the United States Postal Service.
As a natural extension of this activity, Lloyd Jones has set its focus on senior-living development with its new AVIVA brand. AVIVA is a rental product designed for active, middle-income seniors that offers a variety of lifestyles from cottage communities to apartments to independent living facilities.
In addition to ground-up development, Lloyd Jones occasionally encounters opportunities requiring substantial redevelopment. Drawing on the underwriting expertise of the investment teams, we redevelop these existing properties to create a brand-new product that competes favorably in the market by maintaining an affordability that new construction cannot match.
At the same time, it provides our investors cash flow and substantial appreciation.
When Lloyd Jones acquires an existing property, underwriting assumes the implementation of a value-add campaign. Professional, experienced construction management is required to budget and execute the plan. Our construction management teams are fully versed in structural and mechanical systems and building codes to ensure a smooth renovation process.