Solace at Cimarron Hills
Solace at Cimarron Hills, a garden-style multifamily community in Colorado Springs, faced early lease-up challenges due to construction delays and a highly competitive market of established properties. With key amenities like the pool and clubhouse delayed, and prospect interest at risk, Asset Living deployed a strategic mix of dynamic pricing, lifestyle-driven marketing, and proactive resident communication. These efforts accelerated lease-up, increased retention, and positioned Solace at Cimarron Hills as a premier residential destination in the local market.
Colorado Springs, CO
Multi-Family
2024
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Challenges
- Construction delays impacted initial leasing momentum, requiring strategic adjustments to maintain prospect interest.
- Competitive landscape with well-established multifamily communities
- Delayed delivery of key amenities, including the pool and clubhouse, posed challenges in resident satisfaction and lease conversions.
Our Approach
- Justified higher rents by highlighting Solace’s upscale finishes, spacious layouts, and private-home lifestyle.
- Implemented a phased rent strategy, dynamically adjusting pricing to align with market demand and leasing velocity trends.
- Proactively managed resident expectations with clear communication and interim lifestyle benefits.
- Developed a lifestyle-driven marketing campaign emphasizing privacy, community engagement and strengthened local partnerships.
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The Results
- Gained an additional 40% occupancy in just 3 months after solutions were implemented.
- Year 1 retention rate of 68%, significantly above the industry average of 45%
- Outpaced New Dev competitors in leasing velocity by 24%.
- Brand awareness has been significantly strengthened through strategic events and community outreach, establishing Solace as a highly recognized and premier destination for living in the Colorado Springs area.