The Birchwood Apartments were built in 2002. An affiliate of The Excelsior Group (TEG) led the acquisition effort in 2003 including a renegotiation and assumption of a HUD-insured mortgage
TEG assumed asset and property management responsibilities in June 2005. During this time, TEG has outperformed the submarket in terms of both rent rate and occupancy, with residents and prospects commenting frequently that Birchwood has special appeal with its North Woods setting and aesthetic.
In 2015, to compete with emerging new supply in the submarket, TEG re-branded the property and hired a design firm to create a master renovation plan. The master plan will be executed over the next three years, and includes unit rehabs, as well as a renovation of all common areas/amenities such as hallway carpets/paint, signage, five community spaces, and backyard improvements.