Princeton acquires distressed properties and rehabilitates them through interior and exterior renovations that dramatically increase the value of the property. The company then repositions these properties within the surrounding communities by using strategic and effective marketing to attract qualified residents. By attracting residents who share the same pride in the apartment community, Princeton assures the protection of its investment.
The company continually upgrades all living spaces and improves the residents living experience by providing technologically advanced amenities such as WiFi hot spots, high-speed Internet and FIOS, keyless entry systems as well as a full suite of online resident services including rent pay, work order submissions and email notifications of community and neighborhood events.
Princeton’s reputation for excellence in turning undervalued apartment communities into solid investments has earned the company the status as one of the industry’s leading rehabilitation operations in the nation.
Princeton Properties invests in new construction of apartment communities. With years of experience in multi-family housing, Princeton Properties clearly understands the entire building process and has developed a talented group of in-house professionals who are highly skilled in project management. This includes permitting, design, architecture, functionality planning, construction and pre-opening marketing.
Some of Princeton’s past projects include the construction and opening of two luxury apartment communities as well as two extended-stay hotels in Massachusetts. Of special importance is the fact that each project was completed on schedule and within budget. Success can be attributed to our disciplined approach, constant monitoring of the progress and the ability to make changes when necessary.
Today, Princeton Properties has several New England building projects in various phases of the permitting and construction process.
Common sense and creative problem-solving distinguish the Company and its management team. To ensure the efficient and effective operation of its properties, Princeton has adopted a style of management typified by a high level of day to day involvement from both principal and senior staff. The process is supported by weekly meetings and critical data secured through customized reporting systems.
This hands-on approach and attention to community specific details sets Princeton apart from its competitors. The organization allows for reduced bureaucracy and fosters the knowledge among employees that they are empowered to provide the best possible service to residents and clients.
The guiding principle of the company’s management approach is that human assets are as valuable as real estate assets. Princeton supports their employees by providing regularly continuing education, in-house training and mentoring programs.
Princeton Properties proudly applies their “best practices” to any 3rd Party Management relationship. Careful consideration is given to the types and locations of the assignments undertaken, assuring that the needed support can be readily and consistently provided to the site-based staff. Princeton believes success is achieved through the development and implementation of site specific management, marketing and operating plans which reflect the individual needs and character of each property and the goals of the asset’s owner.
Our pledge to owners and investors has always been to continually increase the value of our managed properties through strong hands-on management, innovative marketing, tight control of expenses and sound financial planning.
Princeton has created a highly effective leasing and marketing organization that encompasses media planning, website design, collateral development, creative advertising and outreach as well as cultivating a team of well trained leasing professionals, many who hold the designation of National Apartment Leasing Professional (NALP). Since Princeton’s real estate portfolio includes a wide variety of products including corporate furnished housing, market rate apartments and affordable housing, our leasing and marketing strategies must have a myriad of layers and methods all fed by extensive research and knowledge of our varied products and clients.
Since Princeton Properties began marketing corporate furnished apartments over 30 years ago, the company has become the largest provider of furnished apartments in New England. Princeton has been recognized on a national level for its exceptional service in this area. In 2007, 2008 and 2009 Oakwood Worldwide recognized Princeton Properties as an Accredited Provider. We are proud to be recognized for three consecutive years by this national industry leader of temporary furnished apartments. We also received the prestigious Tower of Excellence Award in 2010 from the Corporate Housing Providers Association (CHPA) for Best Provider Member of the Year, Individual: Terry Flahive. It is wonderful to be acknowledged for our dedication to this important part of our business.
Corporate furnished housing is designed for the executive who is relocating or in need of temporary housing for 30 days or more. The skills required to lease furnished apartments on an extended stay basis are unique and demanding. By developing these skills, Princeton Properties has been able to broaden its market base, resulting in higher occupancy levels, increased revenues and superior net operating incomes.
Since 1993, Princeton Properties has been involved in providing quality affordable housing. The company has worked effectively with the Massachusetts Housing Finance Agency, New Hampshire Housing Finance Authority and the Maine State Housing Authority to rehabilitate distressed communities.
Princeton’s success in this arena is due to several reasons. The company has a clear understanding of how to finance affordable housing communities; this includes tax exempt bonds, credit enhancements and the use of tax credits. Secondly, following the successful rehabilitation or construction of a community, Princeton Properties has a thorough understanding of the resident selection, qualification and certification process. Finally, we strive to always meet the needs of our residents; our philosophy is that the only difference between the residents of a market rate community and an affordable community is the amount of rent they are able to pay.
In 1999, Princeton received the prestigious Best Rehab Award from the National Apartment Association for its accomplishments at River Place Towers in Lowell, Massachusetts. In 1995 Princeton Crossing, which is 20% affordable housing, was selected by the Multi-Family Council of the National Association of Home Builders to receive the Pillars of the Industry Award for Best Rehabilitation.