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The Buck Companies Continues Luxury Upgrades at Westglen Apartments

The Buck Companies, a St. Louis-based developer and property manager, has spent the last 3 years renovating their Westglen Village Apartments, a quaint 80 unit apartment complex in Ballwin.  This multi-million dollar project has resulted in skyrocketing demand, with vacancy rates now below 5%.  Today, the market for apartments continues to climb as The Buck Companies moves into the final phases of the luxury upgrades taking place at Westglen.

The last two years have brought substantial drops in home values, and many who may have qualified for a mortgage during the housing boom may not qualify today.  As a result, apartment living is making a comeback – a trend that’s alive and well at Westglen, where new residents and apartment seekers are embracing the safe and secluded location coupled with the luxury features and upgrades in into each unit.  These include upgraded Kenmore appliances, upgraded carpet and pad, custom paint and wainscoting in dining rooms, closet organizing systems, six panel doors, upgraded countertops, washers and dryers in select units, and assigned covered parking.  Hiking Trails have also been enhanced, giving residents miles of outdoor space to explore.

In addition to the Westglen Village complex, The Buck Companies is planning developing a new apartment project in West County which will feature more upscale units with larger footprints and amenities, including attached garages, luxury kitchens and more traditional single family home characteristics. Recognizing that both older and younger generations are beginning to find rental accommodations more desirable than homeownership, new updated apartments close to hospitals, medical buildings and retail districts is important.

“We’re creating a unique and comfortable environment for residents at both Westglen and our new development in West County,” said Grasse.  “Residents are seeking out apartments in numbers that we haven’t seen in many years.  They’re used to looking for, and they’ve come to expect, luxury in their homes.  Now, we’re giving them more upscale options, upgraded features, and amenities that didn’t always exist in apartment homes.  Vacancy rates at Westglen have dropped substantially, and demand continues to grow.”

Kenn Grasse, President of The Buck Companies, founded the company in 1995 with a vision to build unique properties with an emphasis on creating special environments that afford a relaxed, open atmosphere in which to live and work. Grasse was inspired by his own desires to have a place to work that allowed him to enjoy the outdoors with special landscaping, patios, balconies and special amenities all in attractive settings.

 

Troubled Assets

It should be noted that Mr. Grasse worked closely with lenders during the Saving and Loan crisis in the late eighties and sees our present real estate investment market as having similiar characteristics as it relates to the opportunity to attract  private capital to  experienced real estate  investment professionals like The Buck Companies to work with the lending community by repackaging, remarketing and repostioning of troubled properties . In an effort to provide these services, The Buck Companies has developed a team of professionals aquire troubled assets.