ResidentialONE celebrated its five-year anniversary in September and what an eventful five years it has been! Most recently, of course, we have all had to adapt to a new world of social distancing, personal protective gear, rotating work shifts, rent increase and suit moratoriums, etc. No one could have prepared for a national pandemic, but collectively we are adapting to meet these new challenges. We are extremely proud that while many businesses were laying off employees in the first few months of the pandemic, Res1 did not.
On a much lighter note, there have been many other exciting changes since Res1 was born. We have parted ways with a few clients whose goals did not align with ours, and then replaced them with several thousand new units. Overall, our total unit count has grown to more than 9,000 with much, much more in the pipeline.
We have expanded our business model to include congregate care and assisted living communities. With the acquisition of properties like Homecrest House, Edwards, Friendship Terrace and Springvale Terrace, Res1 now has a solid presence in this sector of the market. We also now have an extremely strong presence in the RAD (Rental Assistance Demonstration) sector. Properties like Monument East, McCulloh Homes, Bernard E. Mason, and Govans Manor are all examples of RAD success.
Lease-ups, particularly those for newly constructed properties, are still thriving. PACA House, Momentum Shady Grove, Bowen Flats, Eleven64, Metro Village and Beall’s Grant are all examples of some of the more recent successes. Others such as Woodlands at Reid Temple, Mills Place, and Marshall Gardens are just beginning.
We could draft a short novel about the changes and growth we have experienced to date, but instead we want to thank all of you for your continued hard work. Res1 is successful because 400 employees come to work every day, adapt and overcome obstacles while striving to contribute to the common goal. This doesn’t work without everyone working together. We would like to express our very sincere appreciation to each of you.
We truly regret not being able to have our company meeting in person this year but look forward to a safer world in 2021 where we can all meet again in person for a day of fun, food, and awards. In the interim, please be assured that as we grow, new opportunities for growth will be made available to you as well.
The sky is the limit!
Tony & Louis