Brighton Square is tranquil community-oriented property with a location that offers unrivaled access to metro Madison’s highway network. Residents are attracted by the attractive mature landscaping, large floor plans, and high-touch service. Ansonia added amenities including a grilling station and dog park, renovated building entries and common hallways, and updated kitchens and bathrooms. The property’s public presentation was refreshed with new property branding, signage, exterior lighting and a renovation of the leasing & management office.
Ansonia acquired and is renovating this 264-unit mid-rise community in a JV with an institutional equity partner. Mandalane offers a job-rich location served by top-rated schools in Chicago’s prosperous north suburbs. Ansonia de-risked the business plan by self-imposing a middle-income affordability restriction on a portion of the property in return for favorable loan terms from Freddie Mac. The value-add plan encompasses unit renovations and creating a community “commons” with gathering spaces, outdoor kitchen, recreational areas and a dog park.
