Case Studies
In 2015, Cherette Group’s market research indicated a clear need for a fully amenitized, Class A multifamily housing product for those seeking an upscale apartment home option in the Lakeshore community.
Residents of the Tri-Cities (Grand Haven, Spring Lake, and Ferrysburg) enjoy beautiful Lake Michigan beaches, many inland lakes and rivers, and a high quality of life. The community has seen strong economic and population growth, however, due principally to the Real Estate recession, no new multifamily inventory was added from 2007 to 2014. Just 48 new units were added in 2015 and 2016. This constrained supply created substantial pent-up demand.
Envisioning the high-end community is a specialty of Cherette Group. The firm created a multifamily community that incorporated best practices in design, construction, luxury features, and concierge services – thereby creating significant differentiation from the existing market.
Cherette Group identified and acquired land in a rapidly growing area of Grand Haven Township and worked with local officials to create a Planned Unit Development (PUD) for the project. The company retained architectural, engineering, construction services as well as negotiated and obtained financing for the project.
The resulting community is Piper Lakes Apartment Homes (www.piperlakes.com). It contains 204 luxury apartment homes in eight three-story buildings including 128 attached garages, all surrounding three large ponds. The property is managed by Cherette Property Management, a sister company to Cherette Group.
Piper Lakes Apartment Homes offers residents a modern clubhouse with management offices, a community great room, and a 24/7 fitness center overlooking the heated pool and hot tub. The community also offers a private dog park with a heated viewing area and a dog spa.
The homes feature fresh, white kitchens with gray quartz counters, stainless appliances, spacious pantries, counter seating, and soft-close cabinetry. Designer features throughout include nine-foot ceilings, upscale plumbing and lighting fixtures, walk-in closets, master suites, private decks and patios, laundry rooms with full-size appliances, in-unit media and technology panels, fiber optic networking, and programmable thermostats. All homes are pet-friendly and non-smoking.
Attached garages are a rarity in this multifamily market. They offer home-like convenience, easy access, as well as additional storage for residents.
Cherette Group led all disciplines of development including site selection, engineering, design, financing, and construction and property management. This approach delivers long term quality, operational efficiencies, and superior returns.
In 2020, Cherette Group brokered the sale of Piper Lakes Apartments to Universal Properties. Cherette Property Management continues to provide management services on behalf of the new ownership group.