Opening at 60% leased on April 15, Maven Apartments in Burnsville is Roers Cos.’ most successful lease-up to date. The challenges of marketing and leasing during the COVID-19 crisis haven’t slowed interest or leasing activity for this new development in the Twin Cities’ southern suburbs. Below is Roers Cos. media release celebrating the success of this project amidst unprecedented challenges.
LEASING SUCCESS
Impacts from the COVID-19 crisis have not deterred the rapid lease-up of the 137 units of Maven — the first new multi-family apartment community in Burnsville in 14 years. As Maven opens its doors to its first 56 residents April 15–16, more than half — 60% — of the alcove and 1- and 2-bedroom apartments have already been rented. That figure sets a personal best for the fastest lease-up in the eight-year history of Twin Cities developer Roers Companies. Even with no concessions being offered, interest continues to flood the new $23 million development — with many prospective renters taking virtual tours.
“We have consistently been getting 15–20 tours per week — even since the pandemic began and in-person tours shifted to FaceTime and Zoom,” notes Amy Johnson, director of marketing and leasing at Roers Cos. “People have responded really well to virtual tours, and the quality of leads is still there. At Maven, we haven’t seen quantity go down either — this property has been off the charts for months!”
“I would expect that after we get through this crisis, the way consumers lease apartments will change permanently as more people realize it can be done without leaving home,” Johnson adds. “I think this could easily become ‘the new normal.’ It will have a lasting impact on the apartment business in many ways, and I think that will be a positive for the industry.”
IMMENSE INTEREST
Located at 7 Travelers Trail West in the heart of the Burnsville near wine bars, shopping, fine dining, and the Ames Center, Maven Apartments began hosting hard hat tours on December 16, 2019. At that time, touring visitors and future residents were able to view Maven’s spacious, open-concept model apartment featuring refined finishings and modern amenity packages, plus the lobby space with a coffee bar, fireplace, lounge and TV.
“We saw immense interest in Maven, even five months out from our opening because of the lack of new multi-family housing in Burnsville,” notes Brian Roers, co-founder of Roers Cos. and Core Living.
“Serious concerns about the pandemic did not eliminate the genuine need for quality housing in this key Twin Cities suburb, and everyone has been smart and safe about touring the site virtually. Even at a challenging time, Maven invites families and individuals to live in a modern home that speaks to their lifestyle and has attractive features nearby. They may not be able to take advantage of all the great things the neighborhood has to offer right now, but people understand the benefits of getting into a brand new apartment today so they’re ready to enjoy everything once the stay at home order is lifted,” he adds.