ADVANTAGE POINT STUDENT HOUSING

Transcription

ADVANTAGE POINT STUDENT HOUSING
3 Buildings | 21± Acres | 337 Units | 1,348 Beds
Kutztown University
Phase 1: 2 Buildings; 898 Beds
Phase 2: 1 Building; 450 Beds
435 Baldy Road
Kutztown, Pennsylvania
Offering Memorandum
The following disclaimer applies to the attached Offering Memorandum (“Memorandum”) and you are,
therefore, advised to read this Disclaimer carefully before reading, accessing or making any other use of the Offering Memorandum or other information supplied in connection with the Property.
The Memorandum shall not constitute an offer to sell the Property. A sale of the Property shall only take
place upon the execution of an Agreement of Sale that has been signed by Buyer and Seller and all conditions
and contingencies contained in the Agreement of Sale have been satisfied prior to settlement.
Neither Rittenhouse Realty Advisors (“RRA”) nor any other third parties have been authorized to give
any information other than what has been provided in the Memorandum. Notwithstanding the foregoing, RRA
does not make any representation as to the completeness or accuracy of the information contained in the Memorandum or the value or performance of the Property either past, present or future. The information contained in
the Memorandum shall not be relied upon as a promise or representation as to any condition, value or performance of the Property. RRA and its owners, members, shareholders, managers, employees, agents and affiliates
expressly disclaim any and all liability for any and all representations, either express or implied, arising from any
statements, warranties, representations or information provided in the Memorandum or from the omission of any
such representations, statements, warranties or information from the Memorandum. It is the sole responsibility
of any recipient of the Memorandum to verify the information contained therein and to conduct the proper due
diligence concerning the Property.
Qualified prospective purchasers of the Property shall be afforded an opportunity to conduct inspections
of the Property. It is expected that such qualified purchasers shall conduct any and all inspections and evaluations of the Property deemed necessary by them.
RRA and Seller reserve the right, at their sole discretion, to reject any and all expressions of interest
concerning the Property from third parties, including the termination of any ongoing discussions and/or negotiations. The Memorandum is subject to withdraw, cancellation or modification by RRA or Seller at any time. Seller shall have no legal obligation to any party that has received or reviewed the Memorandum unless and until a
written Agreement of Sale has been fully executed, delivered and approved by Seller and Seller’s counsel; and
all contingencies and/or conditions to Seller’s obligation to settle have been satisfied.
1628 John F. Kennedy Boulevard, Second Floor | Philadelphia, PA
215.454.2852 | [email protected]
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1628 John F. Kennedy Boulevard, Second Floor | Philadelphia, PA 19103
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Executive Summary
Project Overview
The proposed ground-up student housing development project consists of three (3) five-story residential buildings and one
(1) two-story clubhouse with an outdoor resort-style pool and entertainment area. In total, the project will offer up to
1,348 beds in 337 units. The 21± acre subject site is ideally located on a parcel directly adjacent to existing on-campus
housing. The project will offer “by-the-bed” 12 month leases and include utilities (subject to an electric allowance) included in the rent.
The governing township has fully approved the project including the site. All other aspects of the project will be in conformance with the newly established Academic Overlay District criteria and building codes. The subject site is the only
parcel in the township with this special purpose zoning designation which eliminates any possibility of competing new
construction and housing and increases the value of the project. In addition to permitting higher density and abundant
ground-level parking, the Academic Overlay District is the only zoning district that permits four (4) unrelated persons to
reside in the same dwelling unit.
There are significant barriers to entry that contribute to the value of the project and further secure the project’s success.
Primarily, these barriers consist of no additional sewer capacity, zoning, and proximity to the campus (location). The developer has reserved virtually all of the remaining sewer capacity in the treatment plant. First, the sewer authority has determined that the reserved water/and sewer is sufficient for the proposed project and that no further capacity is available
for future developments. Second, there are no other parcels of land surrounding the campus or general area that are conducive to student housing. Lastly, the subject property’s location rivals existing off-campus housing locations and there are
no other available tracts of land with comparable proximity to campus to develop.
Kutztown University is in dire need of new state of the art student housing units. The project is welcomed by the
University and has gone as far as to mark the Advantage Point Student Housing Project on their 20 year master plan.
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Executive Summary
Project Differentiation
Aside of the location, one of the greatest contributors to the project’s
success will be product differentiation. The project will offer an up to
17,000 square foot, state of the art, two- story clubhouse that overlooks
a resort style pool. The clubhouse will boast a complete second floor
fitness center, resident lounge with a 120 inch TV, shuffle board, pool
table, arcade games, open-space to host marketing and resident life
events, outdoor fire pits, sundeck, and 1,500 square foot retail space. No
other provider in the market offers a pool and only the Edge at
Kutztown offers a clubhouse with an outdoor fire pit area. The Edge at
Kutztown (approximately two miles from campus) Clubhouse is approximately 3,500 square feet of which only 1,000 square feet is used to house their small fitness center, pool table, and TV
lounge. The remaining space is used as a maintenance shop and offices.
The project will also offer premium furnishings and finishes. The Briar Cliffs, The
Edge at Kutztown, and On-campus housing are the only housing providers that
offer furnished units. The furniture at the Briar Cliffs is in very poor condition
consisting of outdated knotty-pine “70’s cabin-style” couches, tables, and chairs.
The Edge at Kutztown and on-campus housing both offer traditional institutional
grade furniture. In contrast, the project will offer modern design furniture of
University Loft grade or better with comfortable micro-blend suede or fauxleather couches and lounge chairs. The project will also offer granite kitchen counter tops, porcelain or hard-stone vanity tops, faux-stainless appliances, and modern
cabinets and hardware. Only the Lofts on East Main offer kitchens of comparable
quality.
Each unit will contain an efficient magic-pack gas/electric HVAC unit with tenant-controlled digital thermostats. The majority of on-campus apartments do not permit the resident to control the temperature and many of the older on-campus dormitories as well as the individually rented off-campus houses do not offer air conditioning. The Edge at Kutztown does
offer PTAC units which provide electric heat and air conditioning; however, due to the increasing price of electricity and
the construction of the Edge, these PTAC units have become a very expensive source of heat. Lastly, the project will include an in-unit washer and dryer. Historically, this has been one of the most coveted amenities for students residing offcampus. Presently, The Edge at Kutztown is the only major provider in the market that offers this amenity. There are some
individually rented homes that include washer and dryers as well; however, they are few and far between.
Note:
An online site has been set up with approvals and certifications, environmental reports, financial analysis,
artist renderings, maps, etc. Please contact Ken Wellar (215-454-2879) for access.
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Media Links
Property Website:
Advantage Point Student Housing - Website
Videos:
Advantage Point Student Housing
Advantage Point Student Housing - Narrative
In the Press:
Spotlight on Advantage Point Student Housing (Haydenfilms Institute Magazine)
THE SLATE - Home to New Homes (Haydenfilms Institute)
Social Media:
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Property Details
Property Address
435 Baldy Road, Kutztown, Pennsylvania 19530
County
Berks
Municipality/Township
Maxatawny Township
School District
Kutztown Area School District
Zoning
R-2
APN
63-5443-16-83-6274; 63-5443-16-82-5562
Lot Area
21.08± Acres / 906,484± Square Feet
Year Built
2015-2016
No. of Buildings
3
No. of Stories
5
No. of Units
337
No. of Beds
1,348
Parking
1,050 Spaces
Not drawn to scale. For reference purposes only.
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Property Details - Subject Property / Kutztown Univ. Campus Map
Not drawn to scale. For reference purposes only.
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Amenities
Community Amenities

On-Site Maintenance

Swimming Pool with Hot Tub

24 Hour State of the Art Fitness Center

Clubhouse featuring Meeting Rooms and Common Area with Full-Size
Kitchen, Fireplace, Pool Table, Shuffle Board and Dart Board
Unit Amenities

Fully Furnished Apartments including Full-Size Kitchen with Granite
Countertops, Full Size Refrigerator, Oven/Range, Garbage Disposal and
Microwave Oven

Bedrooms with Full-Size Beds

Flat-Screen Television

Washer and Dryer
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Location Overview
Kutztown is a borough in Ber ks County, Pennsylvania, 18 miles southwest of Allentown and 17 miles northeast of Reading. It is 70 miles from
Philadelphia and Harrisburg, 100 miles from New York City, 120 miles
from Baltimore and 160 miles from Washington, D.C. Lehigh Valley International Airport (ABE) is 25 minutes from campus. U.S. Route 222 bypasses the borough to the north and west, leading northeast to Allentown
and southwest to Reading. Pennsylvania Route 737 leads north to
Krumsville and Interstate 78. Kutztown University is located just outside
the borough limits to the southwest.
As of 2010, the total Kutztown population was at 5,012. The median household income within Kutztown was at $46,081 in
2008-2012 and had grown by 29.16% since 2000. The income growth rate is about the same as the state average rate of
30.32% and is higher than the national average rate of 26.32%. Kutztown’s median house value was at $184,800 in 20082012 and had grown by 87.42% since 2000. The house value growth rate is higher than the state average rate of 70.00%
and is much higher than the national average rate of 51.67%. As a reference, the national Consumer Price Index (CPI) inflation rate for the same period is 26.63%. On average, the public school district that covers Kutztown is better than the
state average in quality.
Kutztown's economy is strong and diverse, with workers employed by Kutztown University, the nearby East Penn Manufacturing / Deka (the world's largest independent battery manufacturer), McConway and Torley (a major maker of steel
railcar fittings), Radius Toothbrush, and digital creative agency Sposto Interactive, and at one time, the brand of athletic
shoe known as the Saucony.
Berks County compr ises the Reading, PA Metropolitan Statistical Ar ea, which is also included in the Philadelphia Reading-Camden, PA-NJ-DE-MD Combined Statistical Area (CSA). The United States Office of Management and Budget
has designated Berks County as the Reading, PA Metropolitan Statistical Area (MSA). As of the 2010 U.S. Census, the
metropolitan area ranked 10th most populous in the State of Pennsylvania and the 128th most populous in the United States
with a population of 413,491. Berks County is also a part of the larger Philadelphia-Reading-Camden, PA-NJ-DE-MD
Combined Statistical Area (CSA), which combines the populations of Berks County as well as several counties around
Philadelphia and in the states of Delaware, Maryland and New Jersey. The Combined Statistical Area ranked 3rd in the
State of Pennsylvania and 8th most populous in the United States with a population of 7,067,807.
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Area Map
DEMOGRPAPHIC PROFILE
1 Mile
3 Miles
5 Miles
2014 Population
5,456
12,915
27,097
2019 Population
5,484
12,846
27,082
Population Growth 2014-2019
0.51%
(0.53%)
(0.06%)
Average Age
26.40
32.70
37.30
821
3,632
9,258
0.00%
(1.05%)
(0.15%)
$34,705
$41,785
$53,547
2.40
2.40
2.50
$156,341
$173,976
$175,707
1953
1961
1967
2014 Total Households
Household Growth (2014-2019)
Median Household Income
Average Household Size
Median Home Value
Median Year Built
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Kutztown University
The project will primarily cater to students attending Kutztown University. Kutztown
University is a Pennsylvania State System of Higher Education (PASSHE) public institution and member of the NCAA Division II athletic conference. KU was founded in
1866 and the college offers over 40 courses of study. The University is considered a
“Tier 3” school and US News has ranked the institution as one of the “Best Colleges in
the North Region”.
In October 2013, Kutztown University launched a new Enrollment and Retention Management Division with the sole purpose of increasing the schools total enrollment through an increased persistence rate and aggressive recruiting initiatives.
The University’s objective is to incrementally increase enrollment over the next 5 years to 11,000 students. Kutztown officials have cited this figure to be the school’s “optimum level”. Based on the schools current occupancy and projection, this
would result in a total enrollment of 10,109 students during the 2015-2016 school year when the project is scheduled to be
delivered.
The total enrollment at Kutztown University is 9,513 and total full-time undergraduate enrollment is 8,279. Freshman,
Sophomores, Juniors, Seniors, Graduate Students, and Transfer Students are permitted to reside off-campus without
prior approval from the University. The 2013-2014 University Official Common Data Set is as follows:
-
2013- 2014 E
-
g
Degree-seeking, first-time freshmen
733
1079
Other first-year, degree-seeking
352
297
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All other degree-seeking
2437
3167
212
212
Total degree-seeking
3522
4543
233
240
45
169
29
3567
4712
262
All other undergraduates enrolled in credit courses
Total und r r du
s
274
G
Degree-seeking, first-time
22
20
All other degree-seeking
54
111
77
223
76
193
104
325
All other graduates enrolled in credit courses
Total
r du
Total All Undergraduates
8815
Total All Graduates
698
Grand Total All Students
9513
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Kutztown University
The 2013-2014 Kutztown University Common Data Sets cites that 89.3% of degree-seeking, first-time, first-year freshman
students reside on-campus or university affiliated housing and only 10.7% commute from their primary residence. This
equates to 1,620 degree seeking, first-time, first-year freshman residing on-campus and 194 commuting from their primary
residence. This serves as a strong indicator of how many students in total commute from their primary residences. With the
intention of being conservative, this figure was doubled when estimating the total number of students (out of the total enrollment) who commute from their primary housing and do not need housing.
Kutztown University is in the process of renovating their on-campus housing. These renovations are being conducted
to update and modernize their existing housing product by installing new infrastructure and reconfiguring outdated unit layouts. Lehigh Hall has already undergone renovations and is now back in service. Schuylkill Hall is presently
off-line and undergoing renovations and is expected to be back in service during the 2014 – 2015 school year. During this
process, the college will be reducing their total on-campus bed count. Currently, the University offers 4,150 on-campus
beds and this number will decrease to 3,945 once the renovations are completed in year 2026. This decrease in on-campus
beds coupled with the school’s aggressive enrollment and retention plan further justify and support the proposed project.
More importantly, the University has identified on their campus master plan that they have no intentions of adding any
additional on-campus housing for the next 15 years. In fact they have added the Advantage Point Student Housing project
to their master plan. They will focus their available funds on increasing and renovating academic and facilities space.
Historically, on-campus housing occupancy has averaged 98% which is considered fully-occupied because a few
shared bedroom units are rented as private bedroom units to Resident Assistants at a premium. Aside of the 4,150 oncampus housing beds, there is one affiliated housing complex that is owned and/or managed by the Kutztown University
Foundation. The Honors Building which is reserved for 46 upper-class “Honor Roll” students consists of 12 apartments.
The KU student body is comprised largely of in-state Pennsylvania Residents. The second largest feeder state is New Jersey. Because the college is heavily attended by local and regional students, there are a significant number of “True Commuters” in the sense that many students commute to school for their primary residence / their parent’s house. It is estimated
that 21.8% or 2,077 students out of the 9,513 commute from home. The remaining 7,436 students are “in need” of housing.
The following table demonstrates the housing demand:
Housing Demand
All Undergraduates
All Graduates
Grand Total All Students
%
N
E
8,815
82.85%
698
9,513
7,303
17.15%
18.95%
132
81.05%
78.16%
7,436
21.84%
On-Campus Housing Beds
Affiliated Housing Beds
Remaining Demand After University Housing is F
% Students
NOT need H
#
N
d
4,150
46
3,240
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Kutztown University
On-Campus Housing
The University offers a wide-range of housing options from traditional dormitories and recently constructed institutional
grade “high-density” product to suite and apartment-style housing.
The traditional halls include Bonner Hall, Johnson Hall, Deatrick Hall, Berks Hall, Rothermel Hall, Beck Hall, Lehigh Hall, and Schuylkill Hall. Several of these Halls do not
offer air conditioning and they only offer shared bedroom accommodations. These traditional halls still utilize common showers and are of concrete block or brick construction.
The furniture is of traditional industrial grade design and quality and many of the rooms
are still set-up in a bunk-bed fashion. Typically the units house two individuals; but, there
are some triples. The majority of the Hall residents are undergraduates.
Dixon Hall and Univer sity Place offer suite-style accommodations with in-unit bathrooms. University place is comprised entirely of 4 shared bedroom / 2 shared bathroom
units with 8 students residing in each unit. Dixon Hall offers slightly more variety including a 2 shared bedroom / 2 shared bathroom unit that houses 4 students and a 2 private
bedroom / 1 shared bath unit for 2 students. Dixon also offers a few efficiency units which
are typically reserved for graduate students and seniors. The furniture in University place
is slightly better than the halls; however, the furniture in Dixon hall is much newer; but, it
is still of “typical” institutional grade and design.
Golden Bear Village South (1039 beds) and Golden Bear Village West (107 beds)
offer apartment-style on-campus housing options. These two complexes are by far the
nicest community’s on-campus and they resemble the modern design and layout of newage student housing. Golden Bear Village South offers 4 bedroom / 2 bathroom units with
a variety of shared/private bedroom accommodations for 4 to 6 occupants. Golden Bear
Village West is comprised entirely of units with 4 private bedrooms and 1 shared bedroom with 2 shared bathrooms for 6 occupants. The fixtures and furniture in each
community is much better than that of the halls and University Place; however, it
is still very institutional and lacks appeal. Both communities offer more attractive architecture than the halls as Golden Bear Village West consists of 2 story brick town homes
and Golden Bear Village South consists of 4 story vinyl siding and drive-it apartment
buildings.
Honors Hall is an “apartment – style” community that is considered to be “on-campus”
but, it is owned and operated by the Kutztown University Foundation. Honors Hall is a
small apartment building (46 beds) that offers 2 shared bedroom / 2 shared bathroom accommodations and it is reserved solely for honor roll students.
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Kutztown University
Target Market
The project has been designed to include a variety of different unit layouts and price points to ensure maximum
market penetration. The Target Market is identified as any Kutztown University student seeking off-campus
housing while attending Kutztown University that is looking to live in brand new state of the art apartments. To
better identify the Target Market and further narrow the scope, the following assumptions have been made.
First, it is estimated that 10% of second-year and above students will insist on residing on-campus. Secondly, it is estimated that 10% will choose to reside in the “least expensive” housing they can find due to personal
financial savings preference or an overall inability to afford the projects lowest price point. Lastly, 5% of second-year and above students are presumed to pursue one of the individual homes in the downtown area
out of sheer personal preference.
Target
Estimated Total Number of Students in Need of Housing
10% of students that will insist on residing on-campus
582
10% of students that will seek the least expensive housing option
or who are unable to afford the projects lowest price point
582
5% of students that will insist on renting a house in the downtown
area due to personal preference
291
Target
*
5 981
* The target market is based off of
t
figures and does not account
f aggressive
that t University has set forth in part with
their
tl formed Enrollment and Retention Di i i
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Kutztown University
Off-Campus Housing
There are 4 predominant off-campus housing communities in Kutztown. These include The Edge at Kutztown, The Briar
Cliffs, Bieber Alley Apartments, and The Lofts on East Main. The Edge is the largest and most popular off-campus housing community in the Market followed in size by the Cliffs, Bieber Alley, and The Lofts.
The Edge at Kutztown was the fir st moder n off-campus housing community to
be introduced to Kutztown University Students. The property consists of 184 – 3 private
bedroom / 3 private bathroom units for a total of 549 beds. The community was constructed
in 2008 and has been extremely successful despite its location and lack of unit variety. The
property is one of the furthest from campus; however, they have been able to overcome this
weakness by being one of the only providers to offer fully- furnished units and all-inclusive
rents subject to an electric allowance. The property has washer and dryers in every unit and
each room has a through-the-wall electric PTAC unit. Furthermore, they are the only offcampus housing community to offer a clubhouse with a pool table, fitness center, and outdoor fire-pit seating area. The property’s exterior consists of vinyl siding and faux – stone
while the interior consists primarily builders-grade finishes. The Edge is currently the best
off-campus housing option available to students.
The second largest off-campus community is the Briar Cliffs. The Cliffs were originally
constructed in the 50’s/60’s as recreational summer cottages. At the time, these cottages
were used for weekend get-a- ways from the cities of Allentown and Reading. At
some point in the late 70’s / Early 80’s, the community became one of the original off
-campus housing communities to serve KU students. The property is currently in poor condition as the result of years of band-aid repairs, mismanagement, and minimal capital improvements. There are approximately 100 units in the Briar Cliffs community. Most of the
units are 4 bedroom / 2 bathroom units capable of housing 5 people if the tenants elect to
share one of the bedrooms. Furniture is provided; however, it is well-past its originally
scheduled useable life. Tenants pay a utility deposit at the time of move-in to cover water,
sewer, and electric. The units have electric baseboard heat and central a/c. The tenants must
pay for cable and internet.
The Lofts on East Main and Bieber Alley apar tments ar e ver y similar and they ar e
owned by the same group. Together, the two properties offer 28 units for a total of 84
beds. Each unit consists of 3 bedrooms and 1 bathroom. The owner has done a nice job
renovating the units with above averages finishes, granite countertops, and central air conditioning. The rent includes all utilities (including cable and internet). Both properties are
located in the downtown area. The Lofts are considerably further away from campus than
Bieber Alley; however, the property continues to be filled due to the premium finishes.
Saucony Commons is located one and a half miles fr om campus and sever al blocks off
of Main Street. The property offers 3 private bedrooms/ 1.5 bathroom accommodations.
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Kutztown University
Off-Campus Housing
Lastly, there are approximately 1,000 beds available as student rentals in the Borough of Kutztown. Several years ago, the
Borough began issuing student housing rental permits with the intention of controlling and policing the number of student
renter’s in the town. Recently, a developer attempted to obtain additional permits and the Borough refused to grant them.
The Borough has made it very clear that their hope is to attract more non-student tenants and home-owners to stabilize the
economy and preserve the town’s heritage. In addition, the borough reserves to revoke and terminate the rental permits if a
particular house receives excessive complaints or violations due to the conduct of student- renters.
The down-town homes range in size from single family to 5 unit properties. If students choose to rent these units, they typically pay for their own utilities (aside of water/sewer and trash) and they need to bring their own furniture. These properties
are usually managed by the individual owner.
Off-Campus Housing Pricing
F
per B
in U
?
4b/2b
$2,650
$5,300
School Year
Yes
Old knotty
pine furniture
Yes
No
No
3b/1.5b
$3,645
$7,290
12 Month
Yes
Yes
Yes
Yes
Edge at Kutztown
3b/3b
N/A
$8,220
12 Month
Standard
ULOFT
furniture
Yes
Yes
Yes
Bieber Alley
3b/1b
$3,500
$7,000
School Year
No
Yes
No
Yes
Lofts on East Main
3b/1b
$3,550
$7,100
School Year
No
Yes
No
Yes
Briar Cliffs
Saucony Commons
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22
1910
2006
1910
2006
2008
231 W. Main Street
Kutztown, PA
217 W. Main Street
Kutztown, PA
The Edge
3
Total
750
3
5
Total
184
3 BR 3 Ba
66
Total
952
$463 (6 month lease)
*2 BR rates are per student
and water/sewer.
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23
2 BR 1 BA
1 BR 1 BA
Kutztown Garden Apts.
Kutztown, PA
on site.
Parking included, laundry facilities
of two buildings being 100% vacant
unit. Low occupancy due to one
Parking included, washer/dryer in
on site.
Tenants pay all utilities
All utilities included in rent.
$15 monthly parking
beds and washer/dryer in unit.
Clubhouse, fitness center, tanning
on site.
on site.
Parking included, laundry facilities .
$1,960 - $2,450
$1,725 - $3,450
$3,645
on site.
on site.
on site.
Notes
Rent includes cooking gas
722
N/A
100
N/A
80
900 - 928
20
54
54
$3,780 - $3,948
$3,350
$3,350 - $3,950
$3,150 - $3,350
$3,150 - $3,800
Utilities
Tenants pay gas and electric.
Total
4 BR 2 BA
2 BR 1 BA
Total
3 BR 1.5 BA
N/A
6
Total
184
1,200
1
Total
1,000 - 1,100
5
3 BR 1 BA
2 BR 1 BA
500 - 600
2
2 BR 1 BA
$2,750
$1,900 - $3,800
$3,000 - $3,600
$3,550
Semester Rent
per Student
100%
100%
950
1 BR 1 BA
500
1
1,200
1,000
Unit SF Range
2
12
12
16
16
No.
Units
2 BR 2 BA
1 BR 1 BA
Total
3 BR 1 BA
Total
3 BR 1 BA
Unit Type
1966
1971
56%
100%
100%
100%
100%
100%
100%
Occ.
139 Normal Avenue - A8
Kutztown, PA
503 Briar Circle North
Briar Cliff Apartments
Kutztown, PA
45 E. Normal Ave
Saucony Commons
Kutztown, PA
2002
2006
2200 Lifestyle Lane
1910
Kutztown, PA
2008
2008
Built
(Renov)
233 W. Main Street
Kutztown, PA
301 E. Main Street
Lofts on East Main Street
Kutztown, PA
88 Bieber Alley
Bieber Square
Property / Location
Competitive Rental Market Survey
Yes, no additional charge.
In a 4 bedroom
2 bedroom and 5 students
Up to 4 students in a
Yes, no additional charge.
No
No
Yes
No
Yes
No
No
Double Occupancy
No
Yes
Yes
Yes
No
No
No
No
No
Furnished
Units Available
Competitive Rental Market Survey
Property / Location
Advantage Point: 435 Baldy Road; Kutztown, Pennsylvania
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Bieber Square: 88 Bieber Alley; Kutztown, Pennsylvania
2
Lofts on East Main Street; Kutztown, Pennsylvania
3
233 W. Main Street; Kutztown, Pennsylvania
4
5
6
The Edge: 2200 Lifestyle Lane; Kutztown, Pennsylvania
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Saucony Commons: 45 E. Normal Avenue; Kutztown, Pennsylvania
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Briar Cliff Apartments; 503 Briar Circle North; Kutztown, Pennsylvania
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Kutztown Garden Apartments: 139 Normal Avenue; Kutztown, Pennsylvania
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Kenneth Wellar
Tel: 215.454.2879
[email protected]
Corey Lonberger
Tel: 215.454.2878
[email protected]
Mark Duszak
Tel: 215.454.2884
[email protected]
Luke DeLuca
Tel: 716.510.3715
[email protected]
Chris Egan
Tel: 215.454.2913
[email protected]
Doug Emrich
Tel: 215.454.2889
[email protected]
David Greenhalgh
Tel: 215.454.2887
[email protected]
Robert Marzullo
Tel: 215.454.2921
[email protected]
Steve Miceli
Tel: 215.454.2916
[email protected]
Vincent Tagliente
Tel: 215.454.2920
[email protected]
Philadelphia Office
1628 John F. Kennedy Blvd.
Eight Penn Center, Second Floor
Philadelphia, PA 19103
Tel: 215.454.2852
New York Office
200 West 57th Street
Suite 702
New York, NY 10019
Tel: 212.765.7900
Delaware Office
102 Larch Circle
Suite 102
Newport, DE 19804
Tel: 302.994.3907
www.RittenhouseRealty.com | [email protected]

ADVANTAGE POINT STUDENT HOUSING

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