Trailblazing: Talavera Condominiums, Tempe, AZ
Revisiting a Well-Located, 1980s-Vintage Apartment Community
Leasing Office – Before
Drab, 1980s Beige Stucco
Leasing Office – After
Fresh, Colorful and Modern
H.G. Wells, who wrote the famed sci-fi novella The Time Machine, is credited with popularizing the concept of time travel by using a vehicle to navigate through time selectively and purposefully. Today, we’ll go for a ride on the Pathfinder Time Machine to revisit Talavera – our 1980s-vintage, 144-unit condominium project in Tempe, Arizona.
Let’s set our dials to May 2013, when we purchased what was then called Copper Creek and prior to our comprehensive renovation program. Memories of the overwhelming sea of beige and brown stucco and a dark, drab leasing office come flooding back. Even then, we could see the community’s potential for greatness by virtue of private garages, large unit interiors, balanced unit-mix and functional property layout. In order to modernize the community, our renovation strategy would focus on enhancing the project’s exterior by adding a bold and complementary paint scheme, updating the landscaping and pool areas to provide for a more resort-style feel and adding common area amenities including a dog park and new leasing office and fitness center. Within the unit interiors, our plan would be to upgrade the kitchens (modern appliances, cabinets, countertops/backsplashes, lighting fixtures and flooring) and bathrooms (sinks, faucets, light fixtures and mirrors) and install new flooring, with the goal of adding stylistic elements suited to a younger and more design-conscious renter.
Pool Area with Original Paint Scheme
New Pool Area and Fresh Building Paint
Hopping back into our time machine, let’s return to the present day. Exterior renovations are now complete and we have remodeled 40 of the unit interiors. Tenants are spending quality time bonding with their furry companions at the new “Bark Park” and prospective renters can relax in a welcoming and polished leasing office. Since we completed the exterior improvements in January 2015, we have maintained an average occupancy of 95% and have focused our efforts on tenant retention through increased community events and greater use of the improved gathering spaces. Our vision of transforming Talavera into a relevant, modern apartment community has been realized and, in the words of H.G. Wells, we will continue to “strive to welcome change and challenges, because they are what help us grow.”
New Doggie “Bark Park”
Interior of New Leasing Office