Top Trends in Multi-Family Construction

As the CEO of VanKrk Electric, Loren Wesley Vankirk is the third generation to run the family business based in Winder, Georgia. Loren Wesley Vankirk has expanded the company from its original electrical contracting premise to real estate development.

There are always new trends that influence multifamily property construction. Eco-friendly features, like energy-efficient appliances, gardens, and solar panels, are being incorporated into many apartment complexes as more people are becoming aware of decreasing their carbon footprint to help the environment.

Smart home features, like smart locks and security devices, appear in more multifamily housing units. Renters are increasingly demanding more convenience and security, driving demand for these smart features.

There is also a similar growing demand for formerly luxurious amenities like gyms, swimming pools, and high-speed internet, leading to their presence in many multifamily complexes. Many apartment complexes feature communal facilities like lobbies, laundry rooms, common rooms, and recreational facilities. These facilities help promote relationships between the tenants, helping to provide a sense of community.

With the increase in remote working and freelancing, some apartment complexes make remote work facilities like high-speed internet, video conferencing facilities, and other office accessories part of the facilities available to tenants.

 

Downtown Development Authority - Main Street Program Affiliate

A Winder, Georgia businessman, Loren Wesley Vankirk is the CEO of VanKirk Electric, an electrical construction company that is recognized as a leader in the city. Outside of managing VanKirk Electric, Loren Wesley Vankirk is involved with the planning and redevelopment of historic downtown through the Downtown Development Authority (DDA).

The DDA is now an affiliate of the Main Street program. The DDA is an organization that aims is to encourage trade, industry and employment opportunities, and commerce through the revitalization and redevelopment of the city’s Central Business District. Through this affiliation, the DDA hopes to further its mission of developing this vibrant area.

The Main Street Program is a community program that focuses on revitalizing historic streets in Georgia. Main Street programs have become recognized for being integral in areas such as expanding employment opportunities, creating opportunities for investment, increasing tourism, creating public-private partnerships, and above all, leading the state in historic preservation projects. This program represents some of the strongest business districts in Georgia and the southeast.

 

The Tree House - Dedicated to Breaking Cycles of Abuse

Loren Wesley Vankirk heads Vankirk Electric, Inc., headquartered in Winder, Georgia. He brings decades of experience in the electrical contracting industry to the direction of the $50 million firm, which works with clients nationwide and is among the largest electrical contractors in the country servicing apartment complexes. Loren Wesley Vankirk is also committed to the Winder community, and is involved with groups such as The Tree House.

The Tree House reaches out to offer services to families affected by domestic and child abuse. The organization was founded more than 20 years ago, when a number of community leaders dedicated their time to creating a child-friendly place for young people to stay to escape abusive situations in their homes, and one that could provide abuse-prevention strategies to families.

The Tree House offers counseling and life skills education programs designed to break cycles of abuse within families, and to promote an atmosphere of caring and empathy toward children and families in need throughout Barrow County and nearby communities.

Its most recent annual report shows that The Tree House provided close to 2,500 instances of forensic services assistance, close to 1,000 counseling sessions for youth, transportation to hundreds of supervised visitation sessions, and numerous other services.

The work of The Tree House is made possible through the generosity of members of the community participating in the fundraising gala A Night of Hope for Children and other signature events. In 2019, A Night of Hope for Children raised well over $100,000 for the organization.

Characteristics of Garden-style Apartments

Within five years of taking the helm at the family business, VanKirk Electric, Loren Wesley Vankirk increased its revenue ten-fold. Under Loren Wesley Vankirk’s direction, the company has expanded its construction portfolio to include diverse types of multi-unit construction, including student housing, senior living facilities, and multi-family garden-style apartments.

In the property development industry, garden-style apartments refer to a multi-unit complex with the following features:

1. Surrounding greenery - These buildings are usually situated within a setting that contains trees, lawns, flower beds, and other natural elements. These features may be naturally-occurring or manmade.

2. Low density - Garden-style buildings are usually between one and three-stories high. Further, the buildings within the complex tend to be well-spaced. This reduces overall noise from neighbors and results in quieter living environments than comparable mid-rise buildings in urban locations.

3. Amenities - In addition to communal green spaces, many garden-style buildings offer extra amenities for residents and their guests. Some common additions include swimming pools, fitness centers, or sports facilities.

The Problem of Client Cancellations

Loren Wesley Vankirk is the CEO of VanKirk Electric, a company that specializes in multi-family construction and mixed-use projects across the United States. Under Loren Wesley Vankirk’s leadership, the company has grown from its small-town roots to a national presence.

Big or small, electrical contracting businesses will always have to deal with the significant problem of client cancellations. It is a balancing act between maintaining good customer relations and keeping your business protected.

One of the most common ways to reduce cancellations is to introduce an associated fee. Cancellation fees protect you, but they still upset clients even if they are fully aware that the fee will be assessed. If you value a customer’s business more than the fee, you can choose to waive it.

Another way to protect yourself is by requiring a non-refundable deposit. You will find that this strategy is even less popular than the cancellation fees since a lot of customers see it as sketchy to require such fees. Ultimately, you could choose to absorb the cost and try to fill the time with other projects. Whatever your policy is, make sure your clients understand it when entering into a contract.

Maintaining a Network in the Electrical Contracting Industry

CEO and owner or VanKirk Electric, Loren Wesley Vankirk took over the family business in 1994 and successfully increased its revenue from $5 to $50 million in the intervening period. Loren Wesley Vankirk’s strong grasp of marketing and operational strategy has led to the small business earning a national presence.

One of the most important things you have to do as a business leader is knowing your target market. For an electrical contracting business, one of the best opportunities is to reach out to contracting and architectural firms in your area and get to know their leadership teams. Even if they don’t need an electrician at the moment, you can learn about what qualities they value in electrical contractors and potentially learn about other opportunities for business from their network.

Also, do not neglect residential work. Networking with homeowners associations can be an important source of business if you’re willing and able to leverage them correctly. No matter how big or small your company is, make sure you keep up with other electrical contractors both in your area and farther out. Professional organizations and trade events are excellent ways to learn and discover new opportunities.