As 2024 comes to a close, we’re taking a moment to celebrate the incredible achievements, milestones, and growth we’ve accomplished as a company. This year was full of progress, innovation, and community impact. From portfolio growth and operational excellence to team development and giving back, here’s a look at how PLK Communities made 2024 unforgettable.
📈 Portfolio Growth
This year, PLK Communities took significant strides toward our goal of 9,000 units by 2029. We added 891 new apartments, bringing our portfolio to 7,509 units, and expanded to include 55 retail tenants. We also welcomed four incredible properties to the PLK family:
• À L’aise Hyde Park (41 units)
• American Can Lofts (110 units)
• Mark Lane Apartments (286 units)
• Campus View Apartments (106 units)
🏗️ Construction & Development Milestones
Our construction and development teams delivered remarkable results in 2024. Major accomplishments include:
• 144 units at Meribel Apartments and 180 units at Veridian Apartments, one of our fastest lease-ups ever.
• The first 16 units at Remington Lake, with 256 more planned for 2025.
• Groundbreaking at Kenilworth East and Factory 52 Phase 2, setting the stage for future growth.
✨ Operational Excellence
Our operations team ensured smooth transitions, strong occupancy rates, and excellent service this year:
• Conducted 7,291 property tours, resulting in 4,037 applications with a 55.3% closing ratio.
• Renewed 3,854 leases, achieving a 57.7% renewal rate.
• Maintained an average 95% stabilized portfolio occupancy.
• Raised our Reputation Score to 715, with four properties scoring above 800!
🔧 Maintenance Achievements
The maintenance team continued to raise the bar in 2024:
• Completed 31,202 work orders, with 67% resolved in 72 hours or less.
• Turned 2,323 apartments, ensuring they were ready for new residents.
• Achieved review scores 9 points above the industry average, a 7-point improvement from 2023.
📚 Training & Team Development
At PLK, investing in our team is essential to our success. This year, we:
• Ranked #99 in Training Magazine’s APEX Awards, recognizing our commitment to professional growth.
• Hosted the 2nd Annual ELEVATE Summit, fostering collaboration and innovation.
• Launched Interplay Learning, an online and VR training platform for maintenance teams.
• Completed over 50 training sessions, including onboarding for five new properties.
🤗 Power To The People
❤️ Community Impact – #GiveProud
Giving back is at the heart of PLK Communities. Through our #GiveProud initiatives, we:
• Contributed over $81,000 and 2,120+ volunteer hours to local organizations.
• Partnered with organizations like the Boys & Girls Club, Freestore Foodbank, and Pathlight HOME.
• Hosted events like Pick Your Passion Day, where 180 team members contributed 1,500 hours, and the Honor Ride, where 65 team members gave 520 hours.
🏆 Awards & Recognition
We’re honored to have received numerous accolades this year, including:
• Best Place to Work in Multifamily, ranking 10th for management/owners with 5,000 - 19,999 units and 22nd overall for women in multifamily property management companies.
• NAIOP’s 2024 Multifamily Deal of the Year for À L’aise Hyde Park.
• Recognition as a Top 100 Property Management Company.
• Seven GCNKAA Prestige Awards for outstanding achievements.
🔮 Looking Ahead to 2025
2024 was a year of remarkable growth and impact, and we’re excited to build on these successes in 2025. With new developments, acquisitions, and team initiatives on the horizon, the future is bright for PLK Communities.
Thank you to our team, residents, and communities for making 2024 extraordinary. Together, we’re creating places people are proud to call home.
🖤❤️ Live Proud. Live PLK. ❤️🖤