The Woods at Sherman Oaks
This site located in Sherman Oaks, California, contained three structures consisting of 372 total rental units. The entire complex was previously leased on both long-term and short-term rental agreements. The on-site complex was oriented to the working professional who were seeking an upscale residential living environment without the necessity of committing to a long-term lease for their living accommodations. Residents typically utilized these accommodations for periods ranging from several weeks to several months depending on job duration and special circumstances indigenous to the area.
DACM Project Management prepared a highly detailed feasibility analysis for the property considering a number of various approaches to refurbishing the complex. The first approach for the property was to completely refurbish the existing buildings bringing the structures into compliance with the current building codes and standards. One key consideration in this approach was that the construction materials commonly used in 1969 would require toxic materials abatement under current codes.
Another approach was demolition and reconstruction of a new state-of-the art complex. The new structures would include energy saving components, seismic code compliance, modern life / safety systems, and full ADA compliance. Ultimately, it was this later approach which proved most feasible.
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