The Franklin Johnston Group continues to grow as it develops more apartment communities
The Franklin Johnston Group has tripled in size in just four years.
The multifamily development and property management firm started in January 2013 managing 24 properties.
Today it owns and manages about 12,000 units at more than 70 properties from D.C. to Atlanta and has developed 40 communities.
In April, the company earned the distinction of the multifamily developer of the year at the Sustainable Leadership Awards sponsored by Viridiant.
“We’re growing the right way, through sound investments in properties that fulfill today’s consumer demand for smart multifamily housing,” Taylor Franklin, chief operating officer, said in a news release.
Chris McKee, president of operations, said it aspires to be the best mid-sized owner/operator in the Mid-Atlantic market.
“Our portfolio will continue to grow through our own organic growth and that of our strategic partners,” McKee said.
When Franklin Johnston isn’t busy developing new properties such as the new Southern Pine apartment community next to the Virginia Beach National Golf Club it unveiled last fall, it is acquiring and rehabilitating communities.
“We’ve chosen to do business with strategic partners that share our core values and our philosophy for property management,” said Christen Faatz, vice president of operations. “These partners believe in investing in great people and our great people, in turn, invest in our customers – our residents.”
Faatz said excellent customer service to residents is the key to success.
The latest project for the group is Coastal 61 at Oxford Village. It will break ground in the spring of 2018. “This area of Virginia Beach is exploding with new growth and Coastal 61 will come online just in time to welcome new residents to the area,” McKee said.
The project’s anticipated completion date is 14 months after the groundbreaking with the first move-ins expected in the summer of 2019.
The 248-apartment complex will be near Virginia Wesleyan University and the new Norfolk Premium Outlets.
Built with the neighboring university in mind, Coastal 61 is being designed with hardy and brick exterior to mimic the architecture and better blend into that community.
“Our joint venture partner in the project, Virginia Wesleyan University, a premier academic institution in our coastal community, was founded in 1961 and that was the inspiration for the name – Coastal 61,” Franklin said.
Coastal 61 will include one-, two- and three-bedroom apartments ranging from 850 square feet to 1,395 square feet in eight three- and four-story buildings.
The four-story buildings will include elevators and the three-story buildings will be walk ups. All of the buildings will feature keyless entry into common spaces and Wi-Fi.
Units, which range in rent from $1,200 to $1,650 per month, will feature high-end interior finishes that include crown molding, granite countertops, stainless steel appliances, full-size washers and dryers and nine-foot ceilings.
“What will distinguish Coastal 61 even further is the luxury amenity package that comes with each unit,” Tom Johnston, founding partner and chief development officer, said in a news release. “In addition to great shopping and highway access, our residents will enjoy a rooftop sky park, a two-story clubhouse, a state-of-the-art fitness center, an outdoor recreation area and a resort-style swimming pool with an expansive sundeck.”
Charles Mixer, vice president of technology said as the company’s fifth anniversary approaches they are always looking for new ways to enhance residents’ experiences.
“We see smart home solutions as a big part of that, whether it’s Wi-Fi throughout or keyless entry or an app to pay your rent and log a maintenance request,” Mixer said. “We strive to be at the forefront of technological innovation.”
Courtesy of Inside Business, September 29, 2017