Four Companies Vie for Edgewater Management Contract
CDA to Contract Management Services for Embattled Senior Housing Facility
By Patrick Lynn
The Stevens Point Community Development Authority (CDA) on Friday opened four sealed proposals for the management and operation of Edgewater Manor.
Three companies and one individual submitted proposals to run the facility, which city leaders have unsuccessfully tried to sell in the past. The 81- unit senior living facility was on the market until the City Council turned down any potential sale in June because, along with heavy public objection, none of the proposed offers included guarantees to continue offering affordable senior housing. That left the CDA scrambling to get the building back on the tax rolls.
Four entities submitted proposals to professionally manage the building, located on the banks of the Wisconsin River at 1450 Water Street. All the proposals included basic services such as maintenance, landscaping, tenant complaints, marketing and advertising of apartments as well as potential tenant services like background and reference checks.
The CDA will consider the proposals and could make a recommendation to the City Council in December.
Candlewood Property Management, LLC of Stevens Point has said it would begin staffing the office at Edgewater Manor two to three hours a day Monday- Friday and would increase or decrease those hours as needed. The company outlined a staff of 14 for apartment showings, building maintenance/landscaping and accounting. Their proposed fee is 7 percent of collected rent with a monthly minimum of $2,000.
Candlewood set a goal in its proposal to hit 95 percent apartment occupancy within 24 months.
Barb Jacob, 1616 Depot Street and owner of Big Hunchies Roadhouse in Stevens Point also submitted a proposal for managing the property. Jacob, who unsuccessfully ran for 9th District Alderwoman against incumbent Randy Stroik, has owned rental property in the city for 12 years. Jacob says in her RFP she has a degree in accounting, and she would market and manage the apartments herself, hiring one fulltime maintenance person, one part-time secretary and one part-time janitor. She would contract the services of other personnel as needed.
Jacob said she would set office hours of 9-5 daily and offer 24 hour on- call service for emergencies and new tenants. She has proposed compensation of $80,000 in 2014 with a 3 percent increase each year.
Copper Leaf Management Group LLC also submitted a proposal for the property. The company is owned by of Jim and Krista Mendyke, who own several successful assisted living facilities in the area. The Mendykes previously put in a bit to purchase the property from the city before the sale was nixed by the Council.
Copper Lead has proposed a fee based on occupancy of the building, starting a 5 percent of rents collected at 75 percent occupancy, up to 10 percent of rent collected when the building is 95-100 percent full.
Carlson Maintenance and Management Co. of Stevens Point bills itself as a “full service maintenance company”. The Stevens Point- based company indicates in its RFP indicates they would supply monthly reports on tenancy and maintenance. That company is proposing a fee of 7 percent of collected rents with a startup fee of $1,000.
Carlson’s proposal includes full-time onsite officer staff and regular janitorial service of 2-3 hours per week. The company’s owner, Matt Carlson, is a licensed real estate broker, certified dwelling contractor and have served on the Portage County Low Income Task Force.