Rapid Deployment Keeps Stillwater Capital Multifamily Project on Schedule
Striving for a Higher Standard in Modern Living
Stillwater Capital, a leading private real estate developer based in Dallas, TX, has been at the forefront of innovative and integrated multifamily developments. No stranger to large, audacious projects, Stillwater helped spearhead the PGA of America moving its headquarters to Frisco, Texas in a $500 million mixed-use project with two 18-hole golf courses, retail, and a 500-room hotel. Developers will tell you that they stake their reputation with every project they take on, but maintaining a reputation for consistently delivering complex, innovative, high-value projects over many years is what sets Stillwater apart.
Overcoming Delivery Challenges
When Stillwater took on development of the Crystal Springs Apartments, a high-end 387-unit multifamily project located along the Trinity River in Fort Worth’s exclusive Riverbend District, they had a clear vision in mind: create an innovative living experience that fits seamlessly into the relaxed and vibrant neighborhood. One key aspect of the project was integrating electric vehicle (EV) charging stations as an amenity to help attract high-value tenants. The challenge was to find an EV charging solution provider who could keep up with their aggressive project timelines and offer a solution purpose-built for multifamily use cases.
“We were ready to order our stations immediately and needed a responsive and reliable partner to meet our tight timelines.” Said Landon Wood, Senior Investment Analyst, Stillwater Capital.
EV Connect Delivers for Stillwater Project
After evaluating various EV charging solution providers, Stillwater Capital chose EV Connect for its rapid responsiveness, smooth buying process, and competitive pricing. Wood was particularly impressed by EV Connect’s speed of delivery on Stillwater’s 16 PowerCharge 40-amp charging stations. “After a single meeting with EV Connect, I was pleasantly surprised with their velocity and willingness to help,” says Wood. “EV Connect delivered the stations before I thought they would. From the time that we had our first meeting to delivery, it was just one month. That felt really fast.”
Charging Software Built for Multifamily Use Cases
EV Connect’s Multifamily Software Plan, designed specifically for multifamily properties, was a key component of the solution. The software provided flexibility in setting up pricing plans, managing charging sessions, and facilitating monthly payments by tenants. This level of control and customization allowed Stillwater to configure charging in a way that not only encouraged usage but also discouraged hogging of the stations.
Complete Care and Support with EV Connect Shield
To further ensure a smooth operation, Stillwater opted for EV Connect Shield, a comprehensive parts and labor service plan that covers everything, from minor repairs to complete station replacements. The plan ensures certified on-site labor and dispatch, strictly adhering to service-level agreements that guarantee onsite repairs within 48-72 hours. This not only offered total peace of mind, but it also demonstrated EV Connect’s commitment to post-sales service.
“The ease of setting up pricing plans and managing monthly bundled payments was a real game-changer for us.” Said, Wood, “It will allow our property managers to easily create monthly charging invoices for tenants to bill them with their rent as they would any other amenity.”
Future Projects
With the successful implementation of EV charging at the Crystal Springs project, Stillwater Capital is enthusiastic about their partnership with EV Connect and has ambitious expansion plans. They currently have 2,700 units under construction, all of which will feature EV charging.
“EV Connect has reached out multiple times post-order just to check in on how things are going. We appreciate working with responsive partners who offer this level of support.” Said, Landon Wood.
Advice for Other Property Developers Considering EV Charging
Based on his success at Stillwater Capital, Landon Wood shared his key considerations for developers seeking to implement EV charging:
1.) Identify the Need: Understand your tenant base and their needs. High-end, tech-savvy tenants are likely to own or be interested in EVs, making charging stations an essential amenity. Consider charging stations as an investment in attracting and retaining quality tenants.
2.) Choose the Right Partner: Partner with an EV charging provider that responds swiftly to your changing needs and can coordinate design, permitting installation, and inspections to deliver projects on time. Providers like EV Connect, with a demonstrated commitment to customer service and post-sales support, can be vital partners in your projects.
3.) Leverage Software Solutions: A software plan built for multifamily properties can greatly simplify the management of EV charging and improve the tenant experience. Multifamily features like flexible pricing plans, charging sessions reservations, and monthly payments by tenants help property managers by making EV charging management simple.
4.) Plan for Maintenance: Opt for a comprehensive service plan that covers parts and labor, such as EV Connect Shield. Finding certified labor who can fix chargers at a moment’s notice can be difficult and expensive. Comprehensive O&M coverage protects your investment by ensuring the continuous operation of the charging stations.
5.) Integrate with Marketing: Showcasing EV charging in your marketing materials and as part of your property tour can impress potential tenants and emphasize your commitment to sustainability and modern conveniences.
6.) Look to the Future: Make EV charging an integral part of your development strategy. The growth of EV adoption makes it increasingly valuable for attracting tenants and driving returns to investors.
“Going forward, we are committed to implementing EV charging on our multifamily and mixed-use developments and delivering a product that our tenants, investors, and other stakeholders love,” declares Wood.