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Featured Projects

Van Rooy development experience includes the development of suburban apartment complexes, the historic renovation of urban mid-rise apartment buildings, the adaptive reuse of historic schools and warehouses, the development of retail and office uses, and the re-positioning of underperforming assets.

Below are a few of our recent projects.

" VAN ROOY’S MANAGEMENT TEAM IS DEDICATED TO QUALITY SERVICE AND EFFICIENT MANAGEMENT."

PROJECT SPOTLIGHT

Westminster Apartments

Property Location: Greenwood, IN
Property Type: Surburban Garden Apartments
Number of Units: 438 units
Participants: Van Rooy Properties, PR Mortgage and Investment Corp.
Involvement: Developer/Owner, Property Manager, General Contractor

    • Successfully completed acquisition through receivership process.
    • Strategically vacated the 90% occupied property to allow for each unit to be renovated.
    • Project approved by HUD’s National Loan Committee due its size and complexity.
    • Completed a 24 month, $14.0 million renovation.

PROJECT SPOTLIGHT

Campus Apartments

Property Location: Indianapolis, IN
Property Type: Urban
Number of Units: 104 units
Participants: Van Rooy Properties, PR Mortgage and Investment Corp.
Involvement: Developer/Owner, Property Manager, General Contractor

    • Former Section 8 housing converted to student housing.
    • Successfully vacated the property in 30 days for construction start.
    • Completed a $5.4 million renovation and turned over all units and amenities in 10 months.
    • Obtained 100% occupancy prior to construction completion.
    • Reconfigured the entire site to double the parking capacity and add exterior amenities.

PROJECT SPOTLIGHT

Eagle Lake Landing

Property Location: Indianapolis, IN
Property Type: Surburban Garden Apartments
Number of Units: 277 units
Participants: Van Rooy Properties, PR Mortgage and Investment Corp.
Involvement: Developer/Owner, Property Manager, General Contractor

    • Successfully purchased bank note from Bank of America and subsequently foreclosed.
    • At the time of foreclosure the property was 50% occupied with over 100 down units.
    • Completed a $7.7 renovation and turned over all 277 units in 14 months.
    • Obtained 90% occupancy prior to construction completion.

PROJECT SPOTLIGHT

Blacherne Apartments

Property Location: Indianapolis, IN
Property Type: Urban
Number of Units: 68 units
Participants: Van Rooy Properties, PR Mortgage and Investment Corp.
Involvement: Developer/Owner, Property Manager, General Contractor

    • Selected as the designated developer through an RFP process by the city of Indianapolis to renovate and manage the vacant and dilapidated Blacherne apartment building and Plaza parking garage.
    • Successfully implemented the project agreement negotiations with the city of Indianapolis for acquisition and renovation.
    • Successfully implemented historic tax credit rehabilitation in compliance with National Park Service standards.
    • Received 2006 Prodigy Award for Best Renovated Community.