We are pleased to announce that Springs at Cottonwood Creek has reached stabilization. A significant number of team members have played a role in the success of Springs at Cottonwood Creek; it truly was a One Team experience.
Achieving a stabilized community takes the effort of the entire Continental team. Our goal is to reach 95% occupancy, which starts with the conception of project. John Minahan, Director of Multifamily Acquisitions, found our site. Gwyn Wheeler, Development Director, ran the entitlement process. Larissa Addison, in-house Corporate Counsel, led our legal efforts and managed a very efficient closing. Luke Porath, Finance Director, successfully secured our financing and built the project's pro forma Eric Gumm, who was recently promoted to Development Director, prepared multiple site plans and assisted with early recon. Brian Strandt, Director of Construction, and Jake Fon, Construction Project Manager, led our construction efforts through a very difficult project.
Springs at Cottonwood Creek changed general contractors mid-project in 2017 to Lott Brothers, who ran an efficient project. The change in contractors still led to a delay. Our construction team partnered with our onsite team in correcting construction issues throughout the community that were previously incorrect from the original contractor. This work was not an easy task and required a true partnership, further solidifying our One Team mantra.
Rebecca Allgood, our Community Manager, led our team to stabilization in a challenging market. Springs at Cottonwood Creek has had obstacles to overcome, but also many examples of Continental team members coming together as One Team to find the right solution.
Great job and congratulations team Continental!