For immediate release
1784 Hamilton Rd.
Okemos, MI 48864
Mobile (517) 927-9795
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Stockbridge apartment complex receives a $2.5 million makeover
Building lost in August 2020 fire replaced
Stockbridge, MI – February 11, 2022 – PK Companies, a family-based real estate firm in Okemos, MI, has invested $2.5 million in the construction of one building and the rehabbing of another building in the Lakewood Apartments complex in Stockbridge, MI.
The work began in late 2020. The building A rehab project will take a total of 7 months to be completed. Building B, which was a total loss in the fire, was completed in July 2021.
The rehab portion of the project entailed replacing roofing, siding, windows, flooring, appliances, plumbing, light fixtures, cabinets, countertops, as well as painting. Oakwood Construction out of Okemos, MI was hired for the construction work.
The new construction of both Building A and B achieved Enterprise Green status. According to their website, “Enterprise Green Communities, the standard for sustainable futures, is the nation’s only national green building program designed explicitly for green affordable housing construction.”
The project used funds awarded from the IRS/MSDA Low Income Housing Tax Credits (LIHTC) Program.
“At PK and Lakewood Apartments, we are so very excited to be able to continue to provide quality affordable housing and be able to make the upgrades to our buildings, so they function better for the long run. We are also so happy that we’ve had the new building built, so we were able to bring back some of our fire victims to the property,” said Marea Powell, director of property management for PK Companies.
Prospective residents are encouraged to call the Lakewood Apartments leasing office at 517-851-7093 to get on the waitlist for an apartment home.
The Lakewood Apartments project is part of a larger ongoing development project with a total of 12 properties scattered throughout Michigan. The total construction cost for all 12 will be approximately $25,000,000.
About Lakewood Apartments – Lakewood Apartments, located at 831-833 S Clinton St in Stockbridge, MI, is a 32 unit affordable housing community that offers one- and two-bedroom apartment homes. Equal Housing Opportunity. This institution is an equal opportunity provider.
About PK Companies – PK Companies (“PK”) is a family-owned group of real-estate companies based in Okemos, Michigan. PK began as a property management firm but has grown to include a construction company and development group. They currently represent communities in California, Indiana, Michigan, Missouri, Ohio, Alabama, and Texas. PK is committed to creating partnerships that provide housing solutions to better fulfill the needs of our communities. They strive to add value to the areas we serve and enrich the lives of our residents. Through our comprehensive strategy, we purchase, develop and manage properties that offer opportunities for creative housing solutions.