In 2022, after the agreement with the school had ended, Oliver Properties conducted a renovation of 4 units, each representing a different floor plan type. This was to test the market and determine the capex needed to bring the property to full market rates. After proving the market would support higher rents, Oliver Properties began executing a $1.5 million capex budget to bring the property to full market rates.
Oliver Properties began with management-intensive overhauls due to the property's lack of an on-site office but large garden-style layout, which required creative processes to provide residents with a high-end management experience on resource constraints. Creative operational processes were rolled out in maintenance, management, and leasing. The marketing and online presence were also overhauled with professional photography, videography, personalized touring videos, waitlists for leasing at full occupancy, and more.
The capex development plan involved renovating kitchens and baths from the 1980s to a modern standard, adding dishwashers, replacing roofs and aging HVAC systems. Oliver Properties modified kitchens to fit dishwashers and offered washers/dryers in units to satisfy the market's needs for higher ROI. The property underwent a high-end roof replacement of 11 buildings, new gutters with leaf guards, HVAC replacements, interior renovations, landscaping overhauls property-wide, intensive drainage, and grading work. Oliver Properties offered two unit finishes to maximize ROI while controlling capex costs. These included a set of units with refinished counters and vanities and another set of premium units with granite, new vanities, and other touches such as new doors, ceiling fans, and bathroom accessories.