DENVER, May 26, 2015 /PRNewswire/ -- Apartment
Investment and Management Company (Aimco) (NYSE: AIV) received
a prestigious Preservation Award from the Los Angeles Conservancy
for transforming Lincoln Place into an apartment community that
offers the convenience of 21st century living while
retaining the timeless features of mid-20th century
architecture. Conservancy Executive Director Linda Dishman presented the honor to the Aimco
team during a May 7 awards luncheon
attended by more than 600 business and community leaders in
Los Angeles.
Prior to Aimco's ownership, Lincoln Place – like many other
garden apartments – had become a prime target for demolition
because of its vast acreage and low density, spurring a decade-long
preservation disagreement. Under Aimco's ownership, the
redevelopment of Lincoln Place united a sensitive restoration of
the unique historic features of the property with construction of
new, modern apartment homes and state-of-the-art amenities.
"Aimco changed course and embraced preservation. With a
mix of rehabbed and restored interiors, the project team refinished
original hardwood floors, restored more than 5,000 wood windows and
kept 350 mature trees in the landscape," said Dishman. "The
reopening of Lincoln Place meant many things to many people: the
survival of an important place against great odds, a model success
story for an increasingly threatened building type, the hard-won
victory of devoted activists, and the preservation of not just a
great place but a great way of life – for everyone."
"Lincoln Place has held a special place in the history of
Venice and Los Angeles, and it holds a special place in
Aimco's history," said Patti
Shwayder, Aimco's senior vice president of government
relations and communications. "Lincoln is a shining example of how we can
invest in the unique historic character and timeless features of
our communities across the country while creating something very
special for our residents. We are so pleased to welcome
nearly 2,000 residents to a place that was once empty, boarded and
fenced, and has now become a hub of vitality and a boon to
Venice."
The Lincoln Place redevelopment included the rehabilitation of
45 buildings with 696 apartment homes and the construction of 99
new apartments on vacant parcels. Highlights of the new
Lincoln Place are a two-story 6,500 square foot fitness and
recreation center, a rooftop social deck with panoramic views, a
saltwater swimming pool with underwater music, poolside cabanas, a
barbeque area and a fire pit along with plentiful open spaces.
Working in partnership with the LA Department of Water and Power,
Aimco implemented a series of sustainable measures such as
ultra-efficient LED lighting, and low water use, eco-friendly
landscaping to reduce energy and water usage by close to 30
percent. Lincoln Place also features a high speed, fiber
optic network which enables connectivity throughout the
community. Aimco recently received a 2015 Cornerstone Award
from Broadband Communities magazine for technological advances at
Lincoln Place.
Originally constructed between 1949 and 1951, Lincoln Place is
listed on the national and California registers of historic places.
Its rehabilitation was conducted in accordance with the
Secretary of Interior's Standards for the Treatment of Historic
Properties. For more information, visit
http://www.lincolnplaceapthomes.com.
Aimco is a real estate investment trust that is focused on the
ownership and management of quality apartment communities located
in the largest markets in the United
States. Aimco is one of the largest owners and operators of
apartments with 198 communities in 23 states and the District of Columbia. Aimco common shares are
traded on the New York Stock Exchange under the ticker symbol AIV
and are included in the S&P 500. For more information
about Aimco, please visit our website at www.aimco.com.
The Los Angeles Conservancy is a nonprofit membership
organization that works through education and advocacy to
recognize, preserve, and revitalize the historic architectural and
cultural resources of Los Angeles
County. What began as a volunteer group in 1978 now has more
than 6,500 members, making the Conservancy the largest local
organization of its kind in the United
States.
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SOURCE Aimco