In the height of foreclosure and commonplace delinquency, investor-owned homes became cheap rentals or vacant houses and owner-occupants fell victim to heavy HOA fees and the aesthetic nightmare left behind. The Bridgewater Community Association, comprised of 760 homes in growing Wesley Chapel, Fla., looked to the Tampa office of French/West/Vaughan for help.
The goal was to increase sales of owner-occupied homes. The challenge was to provide strategic public relations counsel for the association, positioning Bridgewater as a community leading the way out of the soft housing market by taking proactive measures to improve real estate value. We wanted to heighten awareness of the good things shaping the neighborhood’s future and share factual information and inspire hope with the residents by maintaining a consistent presence in the media. The campaign highlighted community events and programs, the neighborhood’s ample park and recreation space and its proximity to schools and shopping, among other things.
We were confident that the board members’ dedication coupled with our professional support would shape a strong future for the neighborhood. After all, the community had all the elements of a great place to live. In just five months, FWV was able to generate over 1,400,000 earned media impressions in target outlets and approximately *$173,000 in estimated PR value.
As of January 1, 2010, the board reports that in less than one year, Bridgewater’s financials went from near bankruptcy to a balance of over $325,000; collection rates rose from 25% to 55%; HOA dues were reduced from $170 to $70 per quarter; owner-occupancy rates increased from 40% to 65%; and the stats are looking stronger every day.
*The chart below shows the Bridgewater board members’ property value changes from December 1 – 31, 2009 compared to other homes in the same area code; Wesley Chapel; Pasco County; the State of Florida; and the nation. Bridgewater is moving the needle in its favor.
|
Board Member |
Member’s Home |
Area Code 33545 |
Wesley Chapel |
Pasco County |
Florida |
United States |
|
PRESIDENT |
2.9% |
-0.0% |
-0.2% |
-0.3% |
-0.8% |
-0.2% |
|
SECRETARY |
1.6% |
-0.0% |
-0.2% |
-0.3% |
-0.8% |
-0.2% |
|
TREASURER |
2.3% |
-0.0% |
-0.2% |
-0.3% |
-0.8% |
-0.2% |
|
MEMBER |
2.4% |
-0.0% |
-0.2% |
-0.3% |
-0.8% |
-0.2% |
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