Multiversity Housing Partners Adds Fifth Property to Pittsburgh Area Portfolio
PITTSBURGH, Sept. 7, 2022 /PRNewswire/ — Multiversity Housing Partners (“MVHP”) property management arm, MultiVersity Property Management (“MVPM”), will be overseeing the rebranding, management, and planned improvements at The Square on Butler, formally Doughboy Square and Square View in Lawrenceville, PA. An affiliate of MVHP acquired the property in August, 2022.
Located in central Lawrenceville, The Square on Butler is the fifth property that MVPM has added to its portfolio in the Pittsburgh area. This property is comprised of three buildings built between 2014 and 2017 with 59 conventional units. Floorplans consist of both one and two-bedroom apartments with nine affordable two-bedroom units located on the first level. The Square on Butler is also home to seven commercial retailers.
Community amenities include: a 24-hour fitness center, covered parking, indoor bike storage, and a dog wash area. Coinciding with MVPM’s dedication to customer service and safety, controlled access to buildings, and on-site management shall remain in place. Located in “the heart” of Lawrenceville, this apartment assemblage is in close proximity to dining and entertainment options with a walkability rating of 85.
MVPM also plans to make further improvements to the lobby area and amenities by completing major upgrades to the fitness center and its equipment, performing lobby renovations, and adding a Luxor package system as well as comprehensive exterior improvements.
MVPM will bring its boutique-style approach to property management in order to operate this property more efficiently. MVPM will be adding the following upgrades: hallway updates to fit with the rest of the buildings’ luxury apartment theme, improvements to steel balconies, exterior lighting and paint unit exteriors with neutral tones in order to enhance curb appeal.
Christopher Feeley, CEO and Managing Member of both MVHP and MVPM, stated that “these assets add to our portfolio of value-add multifamily properties, with these properties being market rate apartments located in one of the best submarkets (Strip District-Lawrenceville) in the City of Pittsburgh. Frankly, the Lawrenceville-Strip District is one of the best submarkets in any major city located along the East Coast.”