Investor restores apartment complex to former glory

ROCKINGHAM – A Charlotte investor hopes to restore the luster of a once-flourishing apartment complex.

Formerly known as the Town Park Apartments, the newly christened Pinecrest Village Apartments saw a dramatic turnaround in the past few months with the new ownership group looking to return it to a place once known for housing the area’s doctors, dentists and lawyers while simultaneously keeping it affordable.

“[Restoration] is what we specialize in … When bought this about a year ago, we saw it had good bones, good structure. It needed a little bit of TLC. It had good management on the physical side of things,” said Dan DeSantis with Eagleview/Pinecrest of Charlotte.

Since taking ownership, Eagleview/Pinecrest began a slew of initiatives including complete renovation of multiple apartment buildings, installing a 24-hour surveillance system, and recently restoring the old pool, which opened for the first time in 15 years. Thanks to a new investment plan, Eagleview/Pinecrest employees achieved their objectives while keeping the rent for most residents at nearly half the rate commanded by other apartment complexes.

“In today’s economic climate, that can be challenging at times. When you start to hear the stories from local municipalities, from [the media], from the police department, that matters. It shows the work we’re doing today is really effective. It’s reassuring to know the plan we put in place a year and a half ago or two years ago is actually coming to fruition,” DeSantis said.

Currently, Pinecrest management is renting out apartments as soon as they become available. For Daniel Anderson, a resident who moved in last December, said he loves living at Pinecrest.

“I love it. The staff has been great. They come by and check on the apartments and everything … The reputation does not seem right to me. All of the neighbors I’ve met have been friendly and welcoming,” Anderson said.

Rockingham Assistant City Manager John Massey, who also handles code enforcement for the city, said investments like Pinecrest Village Apartments can have a ripple effect throughout the community.

“Anytime somebody invests in property whether it’s [Pinecrest] or any property, it certainly is a benefit to the community. It proves the value of the property,” Massey said.