FirstService Residential Minnesota Expands St. Louis Park Area Management Portfolio

FirstService Residential, the Twin Cities’ leading property management company, has been selected to manage three more properties in the St. Louis Park / Lakes area.

Property Management services started at the beginning of the New Year at Calhoun Place. Just outside St. Louis Park in the West Calhoun neighborhood, this 9-story condominium on Excelsior Boulevard was built in 1987 and is within walking distance of Lake Calhoun. Each of the 109 one and two-bedroom homes has a private balcony; those facing east have views of the beautiful Lake Calhoun. This property has a private indoor pool, hot tub and other common shared amenities.

In the first 90 days of managing Calhoun Place, the FirstService Residential management team achieved annualized operating savings of over $50,000 per year for the Association and was able to offer expert advice on more energy efficient mechanical upgrades, better building security, and an increased skill set of vendors on-site.

FirstService Residential also commenced property management services on April 1, 2015 at Sunset Ridge, located on Ridge Drive in St. Louis Park. Sunset Ridge is a low-rise condominium community with 240 one and two-bedroom homes, a club house and three community pools.

The third property, Cedar Trails, is a low-rise condominium community built in the early 1970’s. This community consists of 280 one and two-bedroom condominiums in 10 buildings with detached garages. FirstService Residential condominium management services will commence on May 1, 2015.

“We are excited about bringing value and a high level of service to these significant and long established communities in this important segment of the Twin Cities marketplace”, says Andy Gittleman, Executive Vice President of FirstService Residential.

For more than 30 years, FirstService Residential Minnesota has provided professional residential property management services to community associations and high-rise condominiums in the Minneapolis/St. Paul area. Today the company serves more than 350 associations consisting of over 33,000 homes throughout the region.