Olive Tree Revamping Houston-Area Rental Community
New York City-based Olive Tree Holdings is underway on a $10 million renovation at The Life at Park View, a 309-unit affordable housing community in the eastern Houston suburb of Pasadena.
The property houses one-, two- and three-bedroom units for households earning 60 percent or less of the area median income. Renovations will include new flooring, kitchen and bathroom countertops, cabinets and appliances.
To date, 59 residences have been completed, with an additional 50 in progress. Exterior improvements will include new roofing and windows, as well as plumbing and HVAC upgrades. Completion is slated for the second quarter of 2023.
Olive Tree searches for target markets that grow at two times the national average, value-add communities built between 1970-2010, and urban undermanned or undervalued properties.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.