In case anyone has driven by and wondered what’s going on at the stripped-down apartment building on 19th and Stevens Streets, here’s the situation.
Dobler Management Co. is spending almost $2 million to renovate Boardwalk Apartments at 1825 S Stevens St., across the street from Fred Meyer and a Shell station. The management company is renovating the 1979 building, not just to update the property, but also to improve the neighborhood, Dobler’s Senior Vice President David Dearth said.
“The neighborhood can either be bad or good, it’s kinda what you make of it,” Dearth said. “We want a product that attracts high quality tenants.”
Dearth said the renovation plans focus on spending about $50,000 per unit, most of which are two bedrooms. Work started two weeks ago, and should be completed in about eight months.
When finished, two bedroom apartments will go for about $950 each.
Dobler asked the residents to move out in the months leading up to the renovation, and Dearth said the process went smoothly.
Although the residential market is struggling, the rentals have been steady, at least for Dobler, Dearth said. Steady enough to start this large-scale upgrade and add three units to the property.
“We are just putting a bunch of money into it,” Dearth said.