Waterchase Apartments

Revitalising a 278-unit multifamily community in Florida, United States, providing residents with enhanced energy efficient facilities and a refreshed look, all whilst keeping rental prices affordable.

Following the acquisition of the Waterchase Apartments in 2019 with ApexOne Investment Partners, Balfour Beatty Communities have completed a three-and-a-half-year improvement scheme to revitalise the complex. Located in Largo, Florida, this community was constructed in the 1980s and features studio, one- and two-bedroom apartment homes and a variety of amenities including three swimming pools, a dog park, fitness centre and a clubhouse.

Reducing carbon emissions

Continuing to focus on enabling emission reductions within their portfolio, Balfour Beatty Communities have implemented a range of enhancements at Waterchase Apartments to encourage sustainable living, including:

  • Installing electric vehicle chargepoints across the complex to provide residents with the infrastructure to transition to electric vehicles.
  • Installing energy-efficient features such as smart wi-fi thermostats in each home enabling residents to optimise their heating and cooling systems.
  • Upgrading more than 250 refrigerators and 240 dishwashers to Energy Star-rated models, reducing both energy consumption and utility costs for residents.

Breathing new life into the complex

As part of the significant upgrades to the complex, all building exteriors underwent repainting, bringing a revitalised feel to the complex. Additionally, new dual pane insulated windows were installed to enhance energy efficiency and minimise solar heat gain for residents.

Affordable rent for residents

Throughout the enhancement works, it was paramount for Balfour Beatty Communities to maintain affordable rent levels for residents. Through strategic planning and execution, the project successfully maintained rents at levels where residents will spend, on average, less than 30% of their household income on rent, aligning with the 30% threshold of the established US metric on housing affordability.