The Star-Democrat from Easton, Maryland · Page 43

Real estate 11 February 20, 1994 Toward a brighter tomorrow 3? . - - - - jbm h4 ' --s?h5 A-f-H- - 3 r -ijr - -..nrr ir Photos by CtHii lyi The Greens at Cross Court are located within sight of Chatham Village, a competitor which began leasing last July. Chatham Village is newest competitor for Easton renters By RICHARD MIDCAP Business Editor EASTON Chatham Village entered the Easton rental competition last year, but officials of the 93-unit apartment complex's more established rivals say Chatham Village hasn't affected their business. "We feel we're a luxury apartment and there's plenty of people (potential tenants) here for everybody in the area," said Barbara Knight, the leasing agent for The Greens at Cross Court, located at 1200 S. Washington St. within sight of Chatham Village. "I was concerned about that (competition from Chatham Village)," said John Hurt, a partner with Park Associates Joint Venture, which owns Cannery Square Apartments off Lomax Street. "So far we have not been able to detect any discernible difference. Chatham hasn't impacted "f An a&fi3i4P fSf tmj'Unity' Building' Group, the non-profit group that owns Chatham Village, said an improving economy may explain why none of the area's largest apartments are suffering from increased competition. "Demand for the units has been higher than we expected, evidence of the economy doing pretty well," said Andy Botticello, vice president of Community Building Group. "We've gotten people from in Easton, but we've also attracted a lot of people moving to Easton for jobs here, which is a good sign." Botticello said Chatham Village, which began leasing last July, is at 'about 65 percent occupancy." "The reason we're not higher than that obviously is we're just coming on line. The last two buildings aren't available yet," Botticello said. Of the 93 units, 14 are reserved for elderly residents. "Because of the type of financing we have, we can offer special deals to elderly residents that's over 62," said Botticello, who said the apartments range in price from $399 for a one-bedroom apartment to $695 for three-bedroom, two-bath units. Botticello said Chatham Village's management wanted a distinct design, which is why it went with a one-level floor plan featuring private entrances and porches, and no common areas. "It's set up like a house," Botticello said. "We try to be a little different than the rest of the market by offering one single level and also offering washers and dryers with each unit, vaulted ceilings and skylights," he continued. The complex, located just off the Easton Parkway on Lauren Lane, also has its own pool and clubhouse. The Greens, which Knight said is 7 years old, has 144 one- and two-bedroom units. It also features a pool and clubhouse and has a putting green. The Greens has a common laundry room and offers washer and dryer hookups, but the apartments don't come with a washer and dryer in the individual units. Cannery Square features 64 units which were constructed in three phases. The first phase was built in 1984 and the additional phases followed in 1986 and '88. Like The Greens, Cannery Square offers only one- and two-bedroom units. . We're appealing to a retired, more mature population," said Hurt, adding the partnership markets the complex as "adult apartments." There are currently no children living at Cannery Square, which does include a washer and dryer in each apartment. . 'It's so convenient,? said Hurt, adding the washerdryer deal is an attractive feature to potential renters. "Some of the others have hookups, but that still means you have to go out and purchase a washer and dryer." Hurt said the concept behind Cannery Square was to offer "an 1 fX jjf;.":! v. i f 4 f I 'i upscale, better-than-average quality apartment." "We've had real good occupancy rates over the years, low turnover and excellent tenants," he said. "We're finding a lot of younger professionals are electing to move into ours. ... I guess who we want to appeal to is those who want a little nicer place. ... People who want a nicer apartment and can afford to pay for it have liked what we offer." Betty Watkins, manager of the 128-unit Mulberry Hill Apartments at 101 Mulberry Hill, said Chatham Village doesn't compete with her complex, which includes 56 federally subsidized units. "It's low-cost housing here. You can only earn so much (income)," said Watkins. Cannery Square caters to more mature renters and young professionals, according to partner John Hurt. Photo by Richard Mdcap Min Soo An of KI Roofing and Siding does some exterior work on one of the Chatham Village units. 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