The Life Properties, the property management and construction management affiliate of Olive Tree Holdings, unveiled a $9.9 million capital improvement program at The Life at Wood Springs, a 608-unit multifamily community in Indianapolis, Indiana.
The project is currently underway at the community, with completion projected for Q1 2025.
Upgrades at The Life at Wood Springs include interior renovations to 417 of the community’s residences, the implementation of new windows and paint, laundry center upgrades, resident clubhouse, on-site office and roofing repairs, as well as repairs and improvements made to the community’s dog park, children’s playground and the asphalt and concrete across the sidewalks and community parking areas. Additionally, the necessary repairs have been made to the community’s pool, delivering an amenity back to residents that had been unavailable for years under previous ownership.
Several sustainable and security upgrades have additionally been enacted as part of the capital improvement initiative including the implementation of low flow plumbing retrofits across residences and property common areas, the installation of LED lighting across the property’s exterior and the installation of a new security camera system.
The Life Properties provides residents of The Life at Wood Springs with a variety of rental assistance programs that include Stake (cash back rewards for on-time rental payments) and Flex (flexible rent payment options) to bolster financial stability and housing security for all residing at the community. Additionally, moving assistance is offered to residents via the platform Moved.
Built in 1973, The Life at Wood Springs offers a mix of one- and two-bedroom residences that feature a range of in-unit amenities including hardwood-style flooring, energy efficient appliances and large closet spaces for storage. The community is conveniently located just minutes away from a variety of neighborhood shopping, dining and entertainment options, as well as to multiple greenspace and golf offerings.
Established in 2017, The Life Properties has managed Olive Tree Holding’s lifetime portfolio of over 16,000 units of workforce and affordable housing. The team has managed over 4,400 units of affordable housing across 18 properties and has overseen the allocation of $250 million in capital expenditure funds throughout the lifecycle of 54 investments.
