The 31-unit apartment building in June, top, and this week. (Photos by Burl Rolett)
A Herndon-based real estate firm is giving its first Richmond area acquisition a new identity.
Ambience Management and Holdings is in the process of rebranding the Baker Atrium Lofts at 1714 Summit Ave. as Ambience Lofts.
Ambience bought the 31-unit apartment building in June from local developer Larry Cluff for $3.5 million. They have since stripped the “Baker Atrium” signage from the building’s Summit Avenue face, which sits across the street from Lamplighter Roasting Company and the recently opened Isley Brewing Company.
Company president Madhu Garlanka said the new concept would bring the former Baker Equipment Company warehouse in line with changing demographics in Scott’s Addition.
The building’s new logo.
“Folks that are moving into the area seem to be more metro renters, young educated singles,” Garlanka said. “We felt that both the signage and the branding that would be more contemporary would probably be more appealing and reflect the aura of the neighborhood.”
The Baker Atrium was one of Scott’s Addition’s earlier historic tax credit rehab projects when it was completed in 2007.
Adaptive reuse projects of Richmond’s old warehouses and factories have often been named for a building’s former purpose or a nearby landmark: for example, the Altamont in Scott’s Addition on Alamont Road, the Bobber Flats at a former Shockoe Bottom bobber factory and the Parachute Factory in Manchester. Garlanka said she had the Ambience Lofts name in mind before the company bought the 40,000-square-foot former warehouse.
Ambience outsourced its logo design work using the website 99designs.com, where artists submit renderings for consideration by the firm. An applicant, such as Ambience, can provide feedback and eventually choose an image, paying a fee to the winning designer.
Ambience received 113 logo submissions from 29 designers and paid $299 for their logo, according to the 99designs website.
Changes at the Ambience Lofts are primarily cosmetic. No building permits have been filed for the property, although Garlanka said she has some more landscaping work in mind for the property.
The building was 97 percent occupied when it went under contract in June. Garlanka did not specify a current occupancy rate but said that there has been some turnover and that she expects to be near about 95 percent occupancy by spring.
Cushman & Wakefied | Thalhimer property managers Justin Sledd, Heather Long and Joey Schihl are in charge of leasing the property. One-bedroom apartments are available at $925 per month, and rental rates climb as high as $1300 for three-bedroom units.
Ambience Management and Holdings is interested in further acquisitions in the Richmond market but has yet to move on any particular properties, Garlanka said.
The 31-unit apartment building in June, top, and this week. (Photos by Burl Rolett)
A Herndon-based real estate firm is giving its first Richmond area acquisition a new identity.
Ambience Management and Holdings is in the process of rebranding the Baker Atrium Lofts at 1714 Summit Ave. as Ambience Lofts.
Ambience bought the 31-unit apartment building in June from local developer Larry Cluff for $3.5 million. They have since stripped the “Baker Atrium” signage from the building’s Summit Avenue face, which sits across the street from Lamplighter Roasting Company and the recently opened Isley Brewing Company.
Company president Madhu Garlanka said the new concept would bring the former Baker Equipment Company warehouse in line with changing demographics in Scott’s Addition.
The building’s new logo.
“Folks that are moving into the area seem to be more metro renters, young educated singles,” Garlanka said. “We felt that both the signage and the branding that would be more contemporary would probably be more appealing and reflect the aura of the neighborhood.”
The Baker Atrium was one of Scott’s Addition’s earlier historic tax credit rehab projects when it was completed in 2007.
Adaptive reuse projects of Richmond’s old warehouses and factories have often been named for a building’s former purpose or a nearby landmark: for example, the Altamont in Scott’s Addition on Alamont Road, the Bobber Flats at a former Shockoe Bottom bobber factory and the Parachute Factory in Manchester. Garlanka said she had the Ambience Lofts name in mind before the company bought the 40,000-square-foot former warehouse.
Ambience outsourced its logo design work using the website 99designs.com, where artists submit renderings for consideration by the firm. An applicant, such as Ambience, can provide feedback and eventually choose an image, paying a fee to the winning designer.
Ambience received 113 logo submissions from 29 designers and paid $299 for their logo, according to the 99designs website.
Changes at the Ambience Lofts are primarily cosmetic. No building permits have been filed for the property, although Garlanka said she has some more landscaping work in mind for the property.
The building was 97 percent occupied when it went under contract in June. Garlanka did not specify a current occupancy rate but said that there has been some turnover and that she expects to be near about 95 percent occupancy by spring.
Cushman & Wakefied | Thalhimer property managers Justin Sledd, Heather Long and Joey Schihl are in charge of leasing the property. One-bedroom apartments are available at $925 per month, and rental rates climb as high as $1300 for three-bedroom units.
Ambience Management and Holdings is interested in further acquisitions in the Richmond market but has yet to move on any particular properties, Garlanka said.
Sad that a historic building is losing a reference to its heritage and sad that Ambience utilized a spec-based crowd-sourcing design website to pay a random person for a lackluster logo in a town that’s full of talented designers.
Very sad, Ali.
It’s one thing for Ambiance to proclaim a new brand and logo. It’s quite another to “proudly explain” how little was paid to a crowdsourcing site for it, even less to the “winning” designer, and NOTHING to 28 other designers is horrible PR. I can assume that Ambiance won’t crowd-source the renovation. Imagine asking 29 plumbers each to install a faucet, then give the plumbing contract to the winner. Finally, I can assume that no designers or other creatives will decide to live there.
Fat Dragon and Blue Goat did the same thing http://wotbn.net/fat-dragon-chinese-kitchen-and-bar-logo-contest-underway/