Mercer Tower has started Phase two and successfully showing “Proof of Concept”.

Acquisition: December 2024

Architecture: 1960

Property Management: AGM Real Estate Group

Our investment strategy for the 60-year-old building, Mercer Tower focused on leveraging the prime North-end location and magnificent views . During the first phase, we developed a design and renovation plan for both the exterior and interior, and then implementing our efforts to meet the proforma objectives.  And now that we are underway with phase two, leasing, most prospects can envision the plan, and a number of leases were secured during the months of July and August.

INTERIOR UNIT UPGRADES

Created an “in-unit” Washer and Dryer, Miele brand. LVP FlooringShaker Styled CabinetsUpgraded Stainless appliance packageDesigner Style Finishes

BUILDING SYSTEMS

A new pumping system to boost water pressure and meet the increased capacity requirements for in-unit washers and dryersVenting throughout the building

EXTERIOR & COMMON AREA IMPROVEMENTS

New entry awning providing a sense of arrival and midcentury-modern aestheticNew entry gate/front door, improving securityHallways, foyers, and corridors updated & paintedDeck railings, dividers and roofs painted and resealed

SECOND PHASE | MARKETING & LEASING

Seven of the 25 units were renovated and leased,We exceeded the proforma by more than 10%The next wave of units is under construction and going through pre-leasingSix units renewed and extended their lease another term with an increase