The Park at Wilkerson, KCG Companies

The Park at Wilkerson, KCG Companies

The Park at Wilkerson is Rock Hill’s first LIHTC community designed specifically for active adults aged 55 and older. Developed by KCG Companies, this 136-unit affordable housing project required a strategic partner to support construction oversight, lease-up execution, and long-term operational success. Asset Living was selected to lead this effort, helping the community exceed expectations and establish a new benchmark for affordable living in the market.

Rock Hill, SC
Affordable
2024
The Park at Wilkerson, KCG Companies

Challenges

  • First LIHTC senior housing development in Rock Hill, requiring community awareness and education.
  • Tight lease-up timeline with move-ins scheduled shortly after construction completion.
  • Coordination across multiple stakeholders, including general contractors, subcontractors, and developers.
  • Need for market-responsive pricing without compromising occupancy targets.
  • High expectations for operational excellence from day one, including turn management and rent collection.

    • Our Approach

  • Collaborated on branding and marketing, including naming unit floor plans ("Birch" for 1-bedroom and "Cedar" for 2-bedroom units) to align with “The Park” theme.
  • Attended weekly construction meetings with contractors and subcontractors to stay aligned on timelines and site readiness.
  • Led all punch list walks, identifying deficiencies, recommending improvements, and preparing units for move-in readiness.
  • Ensured timely completion of requirements for the Temporary and Final Certificates of Occupancy.
  • Launched immediate lease-up operations, moving into the leasing office within one business day of receiving TCO.
  • Strategically increased market rents by 7% mid-lease-up due to strong demand and pre-leasing success.
  • Focused on efficient unit turns and proactive leasing to maintain full occupancy and eliminate downtime.
    • The Park at Wilkerson, KCG Companies
    “The amount of time and how efficiently Asset Living leased up The Park at Wilkerson was extremely remarkable. Wilkerson is performing head and shoulders above some of our other properties on both lease-up and collection, and much of this is attributed to the Asset Living team at The Park at Wilkerson.”
    “
    Ashley Wilson
    KCG Companies
    The Park at Wilkerson, KCG Companies

    The Results

  • Received Temporary Certificate of Occupancy on March 22, 2024; opened leasing office by March 25 and welcomed first resident by March 26.
  • Achieved full occupancy within 90 days, with the final resident moving in by June 21, 2024.
  • Maintained 100% occupancy and zero delinquencies month-over-month post lease-up.
  • Average unit turn time of three days, allowing for near-immediate re-leasing and minimal vacancy.
  • NOI continues to exceed budget goals, driven by strategic rent adjustments and strong operational oversight.
  • Received praise from ownership for outperforming other communities on both lease-up speed and rent collection.

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