Madison, WI – September 20, 2023 – The Life Properties, the property management and construction management affiliate of Olive Tree Holdings, a mission-driven private investment company with a focus on real estate, today announced the completion of its $2.8 million capital improvement program at The Life at Madison Grove, a 195-unit multifamily community located in Madison, Wisconsin. The project began in Q4 of 2021.
“We are thrilled to celebrate the completion of the capital improvement program at The Life at Madison Grove and to be delivering a newly enhanced community to our residents,” said Jamin Harkness, President of The Life Properties. “In tandem with the property upgrades and following an increased demand for pet-friendly spaces, we prioritized the creation of a community dog park as an added way to bolster the living experience for both residents and their pets. We believe that our pets are not only our friends, but our family members as well!”
The capital improvement program at The Life at Madison Grove included interior renovations to 113 of the community’s residences, interior corridors and property roofing, on-site office upgrades, the implementation of new property signage, paint and landscaping, as well as repairs to the children’s playground, the exterior concrete and designated parking areas, and the creation of a dog park amenity. Additionally, enhancements to the community’s boiler room, plumbing system and fire safety system were integrated.
The Life Properties provides residents of The Life at Madison Grove with a variety of rental assistance programs that include Stake (cash back rewards for on-time rental payments), Flex (flexible rent payment options) and OneApp (a third-party guarantor program that aids in making the property an opportunity for residents who may not qualify individually) to bolster financial stability and housing security for all residing at the community. In addition to these programs, community-managed Wi-Fi is offered, providing high-speed internet to residents at a discounted rate.
Built in 1971, The Life at Madison Grove offers a mix of one-, two- and three-bedroom residences that feature a range of in-unit amenities including energy efficient appliances, air conditioners and large closet spaces, as well as many units benefitting from private patio and balcony spaces. The community is conveniently located within minutes to the region’s shopping, dining and entertainment offerings as well as within close proximity to area universities and interstates.
Established in 2017, The Life Properties has managed Olive Tree Holding’s lifetime portfolio of over 16,000 units of workforce and affordable housing. The team has managed over 4,400 units of affordable housing across 18 properties and has overseen the allocation of $250 million in capital expenditure funds throughout the lifecycle of 54 investments.
