University Villa Apartments represents LANE4’s first endeavor into multi-family redevelopment. Constructed in 1987, the 107-unit apartment complex located just blocks north of the University of Kansas Hospital and Medical Center, was ripe for renovation. Perfectly located to capture the demand from medical students, doctors, nurses and other hospital employees, LANE4 jumped at the opportunity to invest in this project.
The property features an assortment of one and two bedroom units dispersed in five buildings and community areas including a swimming pool, picnic area and sand volleyball court. Together with our partners, LANE4 completed a full renovation of the property, updating each individual apartment unit with stainless steel kitchen appliances, granite counter tops, new cabinetry, in-suite washer and dryers, new flooring and additional lighting. In addition, major renovations were completed in the common areas including new entry doors and hallways, updated pool and community gathering areas, additional security features and parking lot improvements. Since the completion of the renovation, the management group has successfully re-leased 100% of the complex at competitive market rates.