Amesbury wasn't supposed to have an elevator.
Eight residential units. Every square foot mattered.
Code review made it mandatory.
About sixty days lost.
Sourcing an elevator company. Scrambling for subs. Holding a schedule already set.
We got back online. The upgrade pushed the asset toward Class A.
We didn't plan it that way. Code forced the upgrade.
On the franchise side, we remodel every ten years by contract.
The lesson carried over.
Put the money where the greatest value is.
For this building, the greatest value was tenants.
Ten units total at this site. Eight residential, two commercial.
Today we're leasing residential. We're talking with potential commercial tenants.
Six covered and heated parking spaces.
Green space. Grills. Small details that carry more weight than they seem to.
Commercial is a vanilla envelope. A clean shell. Tenants build it out on their own terms.
It usually takes longer than residential to lease up.
Marketing has to go up before the building is finished.
We're looking for commercial tenants who complement the living space, not compete with it.
Construction risk is behind us. Lease up is the real finish line now.
Visit thegatewayamesbury.com