The Habitat Company Doubles Size Of Condo Division With 1,010 New Units Under Management in ChicagoJanuary 15, 2021
The Habitat Company, a leading U.S. multifamily developer and property manager, announced today the firm has been awarded property management of two Chicago condominium buildings – 899 South Plymouth Court and South Commons Phase 1 Condominium Association. The properties will add 1,010 new units to the firm’s condo management division, effective Jan. 1, 2021, and culminate a year of rapid growth for Habitat, which saw its condominium portfolio double over the past 12 months.
“Our commitment to on-site management, comprehensive operations services and personal interaction with board members and owners truly resonates with each association,” said David Barnhart, vice president of condominium management at Chicago-based Habitat. “In a year that’s been plagued by difficulty and hardship, condominium associations realize the value in partnering with a firm like Habitat, which has more than 45 years of experience in successfully navigating through challenging times due to its creative solutions and talented, robust management team.”
The addition of South Commons Phase 1 Condominium Association, a 760-unit high-rise at 3001 South Michigan Ave., overlooking Dunbar Park in Chicago’s Bronzeville neighborhood, and 899 South Plymouth Court, a 250-unit high-rise in Chicago’s South Loop, come on the heels of three other sizable Chicago condominium management contracts awarded in 2020. The firm announced its management of the 724-unit Park Tower in January, followed by the 234-unit Metropolitan Tower in July and the 323-unit Eliot House in September.
“In the short 18 months that Dave has been a part of Habitat’s team, he’s helped grow the Chicago condo portfolio by approximately 110%,” said Matt Fiascone, president, The Habitat Company. “With his deep understanding of the condo management industry, we anticipate his team will continue to meet or exceed our growth goals. His drive, passion and expertise has yielded tremendous results and we are very fortunate to have him as a part of our team.”
Condominium associations managed by Habitat have access to the same comprehensive suite of services Habitat provides at the properties in its rental management portfolio, including a mobile work order system, on-site management team, and extensive engineering and facilities experts to ensure each building is well-maintained with capital improvements planned and expected.
“Whether it’s our monthly Coffee and Conversations meetings with owners or the personal connections forged by our on-site teams, Habitat is well-suited to continue growing its management portfolio of condominium buildings in metropolitan areas like Chicago,” noted Barnhart.
Habitat’s condominium portfolio now includes 14 associations and 5,071 units under management in Chicago and Southeast Michigan. Future growth will continue with a focus in markets where Habitat has a presence, allowing for a faster onboarding for new associations, according to Barnhart.
For more information about The Habitat Company, visit www.habitat.com.
About The Habitat Company:
Founded in 1971, The Habitat Company is a full-service residential real estate company specializing in property management, acquisitions and development. As one of the largest property developers and managers in the U.S., Habitat has over $3 billion in assets and more than 25,000 units under management across six states. The company’s portfolio includes condominium, market-rate, senior and affordable housing communities. Headquartered in Chicago, with more than 800 employees throughout the U.S., Habitat is dedicated to improving the communities it serves through innovation and a commitment to excellence. For more information, visit www.habitat.com/.