Creekview Apartments was purchased on September 30, 2009. In spite of being RP’s smallest community, consisting of only 80 units, Creekview was one of our most challenging acquisitions to date. Beyond the three year period it took to get a final closing with the seller, this acquisition has opened the door to an entirely different realm of property management for RP--affordable housing. Creekview is our first project-based Section 8 property.
To the layperson, this means that the property is under a long-term contractual obligation with the United States Government to provide quality housing to residents making little or no income. In return for managing the property, the U.S. Government guarantees a large portion, and in some cases, the entire amount, of the residents’ rent. RP Management is very excited to have entered into this management role, not only to work directly with the Department of Housing and Urban Development, but to promote a healthy living environment to low income residents.
The acquisition of Creekview Apartments is strategic for us because it neighbors Glenbrook East Apartments in Stroudsburg, PA. Creekview offers 1, 2, and 3 bedroom apartments and currently has a 3-year waiting list. It is an extremely desirable property because of its prime location in the Pocono Mountains and its affordability to the residents that qualify.
High Pointe Overlook unveiled its beautiful new apartment homes at our October 24th Grand Opening. Since then, the apartments have been flying off the shelf with 6 leases in the first three weeks! The property boasts the best views in Harrisburg and great features in the apartments including 42” cabinets, stainless steel appliances, and full size washer and dryers. The Overlook has the added benefit of the amenities at High Pointe Club including a clubhouse, fitness center, cyber café and swimming pool. In addition, we have added a dog park for all of our pet lovers. Visit the Overlook soon—the units are going fast!
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