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Specializing in the design, renovation and construction of multifamily communities throughout the Southeast United States, Kassinger Devel-opment Group places the resident experience as its top priority. In fact, the team works hard to create strong neighborhood-like communities, addressing various resident needs in the process.

“We continue to focus our core development on three important aspects” said Chip Kassinger, President, of Kassinger Development Group - “We build larger than average square-foot units in the marketplace, utilize environmentally friendlier products, and build for energy efficiency”.

A FOCUS ON RESIDENTS

Although the industry average for tenant turnover is about 60 percent, Kassinger Development Group’s properties have experienced a turn-over rate of about 40 to 45 percent. These numbers reflect the com-pany’s attempts to create inviting places for its residents to live for the long term.

Kassinger’s company takes pride in the fact that they “focus on ameni-ties for the residents that create communities and a neighborhood ex-perience.” Residents living at a Kassinger Development Group proper-ty can appreciate that “Every little feature, whether it is a resident event or the types of products we use, that it includes the residents in mind.”

Kassinger Development Group has gained a great deal of experience in developing energy efficient luxury apartments. The firm strives to use

Creating a True HomeAttention to detail and resident

services helps Kassinger Development Group deliver on promises

Kassinger Development Group

PRESIDENTChip Kassinger

LOCATIONCharleston, South Carolina

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numerous energy-saving and green features in its buildings. “We use Energy Star standards as a baseline,” said, Kassinger.

As part of pre-development plans, the company assesses limiting the removal of trees and us-ing any removal on their site in the design plan.

“Our reputation for appreciating the environ-ment has spread in cities like Asheville, North Carolina where the clubhouse and amenities have unique design features, and in Richmond, Virginia, where we’ve used many recycled 300 to 400 year-old pine in the clubhouse exteriors.”

Kassinger Development Group has now started putting elevators in some of its properties to improve accessibility and screened porches at-tached to units to increase the amount of living space. There are flower and vegetable gardens, and Kassinger states that “If somebody wants a garden at their building or by their building, we will add one.” The Kassinger Development Group is mindful that these details end up mak-ing a big difference to residents.

NEW CONCEPTS FOR THE MARKET

Currently, Kassinger Development Group is working on additional projects in Asheville, North Carolina. The Retreat at HuntHill will be a 180-unit apartment community, adjacent to the downtown, with mountain views. There is a phase II in the works for their existing 256-unit property, Audubon Place. Kassinger Develop-ment Group has incredibly high occupancy at their energy efficient 280-unit property, Weir-bridge Village, also located in the Asheville area.

The Retreat at WestCreek will be the “first-ever product built in the County of Goochland out-side of Richmond, Virginia in the Short Pump area,” Kassinger says. “We are currently in the lease up phase and have opened the clubhouse and the first buildings.” The $32 million devel-opment of luxury energy efficient apartments has a first phase of 252-units, with additional units in pre-development for phase two.

Kassinger Development Group is also working on Sweetwater, a $50 million waterfront de-velopment with 258-units in Charleston, South Carolina. Sweetwater is their premiere multi-use community, with luxury apartments, a boutique style Inn with a restaurant and event space, as well as a portion of the property for single family homes built by Eastwood Homes. The develop-ment will also include unique elements for resi-dents. “Sweetwater is a spectacular waterfront property, and we will have a boat ramp, docks,

aquaponics, greenhouses, and other recreation-al features such as kayak and canoe events right off of our clubhouse, as it is just fifteen minutes out to the harbor on the inter-coastal waterway

- Sweetwater is a unique spot that we have been working on for a long time,” said Chip Kassinger.

Kassinger Development Group is in pre-devel-opment of the Meridian at Fondren, a 246-unit project in Jackson, Mississippi as well as a 264-unit project, the Flats at Estero, in Naples, Flori-da. Both of these projects will be luxury, energy-efficient apartment communities.

There are also a number of other efforts in the pipeline for the company. According to Kassing-er, the team will continue to focus on the three core competencies as it expands its scope.

“We want to keep finding ways to increase the energy efficiency,” he says. “Up front, it takes a little bit more planning, but we are not sacri-ficing returns as we are receiving them on the backend in a big way. We want to take care of the fundamentals and especially the real estate, without starving the capital at each of the prop-erties.”

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Published by DDC Journal - WINTER 2014 ©2014 Avenir Publishing, Inc.For information on ordering Avenir reprints visit us at www.avenirpublishing.com

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