After two years, we're back in Richmond Heights, Ohio, to revisit one of our pioneering multi-family projects. In early 2020, we acquired a vacant JCPenney's for $1.7 million with plans to transform it into 375 multi-family units. Shortly after, the mall right next to the JCPenny's became available, and in 2021, we seized the opportunity to purchase it for $7.8 million. This brought our total investment to under $10 million for 72 acres.

With the mall included, our project expanded from 375 units to 815 units, incorporating a retail component. Initially, we believed in converting vacant malls into multi-family apartments, which still holds potential, but our journey took an unexpected turn.

Join us for an exclusive behind-the-scenes look at our Richmond Heights, Ohio project.

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