Location
EXECUTIVE SUMMARY:
The Quarters – Suites is a three-story, garden-style community constructed in 1970 and fully rehabilitated in 2020 with over $2.3 Million invested in capital improvements to major building systems and unit upgrades. These recent capital improvements included roof replacement, parking lot resurfacing, landscaping, balconies, HVAC and extensive unit & common area upgrades.
Major building systems include a flat roof, individual gas-forced air furnaces and central air (tenant-paid) and domestic hot-water supplied by a boiler system. The construction of The Quarters is wood-framed with a brick veneer on a concrete-slab foundation. Community amenities include on-site laundry facilities and ample on-site parking for residents and guests. Unit amenities include updated kitchens and baths, dishwashers, large porches, and plenty of closet space with closet systems. Perhaps one of the most attractive aspects of The Quarters is the unit mix, which consists of 59, 743 ft.2 one-bedroom units. With social distancing being extremely important as we deal with COVID-19, demand for one-bedroom units is at an all-time high. This is evidenced in The Quarters current pre-leased occupancy of 100%.
The community is very well-located, being situated on a 31,102 SF/.714-acre parcel with high visibility and frontage on busy Saginaw Road, less than one mile from both downtown East Lansing and Michigan State’s campus. Notably the property sits on the Capital Area Transportation Authority (CATA) bus route, the local mass transit provider. Downtown East Lansing offers over 180 retailers, restaurants and bars, offering nearby entertainment for residents.
Residents also have close access to all the major thoroughfares in the area including I-96, I-496, US-127, M-43 (Saginaw Road), Lake Lansing Road, Grand River Avenue and Michigan Avenue, all accessible within a few minutes’ drive from the community. Amtrak has a passenger rail service station in East Lansing and the Lansing Capitol Region International Airport provides passenger service.
