Stillwater Capital, a Dallas-based private real estate developer, has firmly established itself as a beacon of innovation in the multifamily housing sector.
Known for its audacious and high-value ventures, the firm has a history of transforming ambitious visions into reality. Among its many landmark projects, Stillwater played a pivotal role in relocating the PGA of America headquarters to Frisco, Texas, as part of a sprawling $500 million mixed-use development. This transformative venture incorporated two 18-hole golf courses, retail outlets, and a luxurious 500-room hotel, setting a new standard for integrated real estate solutions.
What truly distinguishes Stillwater is its ability to consistently deliver complex, innovative, and high-impact projects while maintaining an impeccable reputation. For them, every undertaking is more than a project; it is a testament to their unwavering commitment to excellence.
Overcoming Challenges in Multifamily Development
In their development of Crystal Springs Apartments, a 387-unit luxury multifamily complex nestled in Fort Worth’s prestigious Riverbend District, Stillwater sought to redefine modern living. Their vision was clear: to craft an innovative, community-oriented experience that harmonized with the district’s vibrant yet laid-back ethos.
One of the project’s cornerstones was the integration of electric vehicle (EV) charging stations, an amenity increasingly in demand among high-value, tech-savvy tenants. However, meeting this vision required surmounting significant logistical challenges, including identifying an EV charging solutions provider capable of meeting the project’s tight timeline and delivering a solution tailored to the unique demands of multifamily properties.
“We were ready to order our stations immediately and needed a responsive and reliable partner to meet our tight timelines,” explained Landon Wood, Senior Investment Analyst at Stillwater Capital.
The EV Connect Advantage: Delivering Seamless Solutions
After a comprehensive evaluation process, Stillwater Capital selected EV Connect as their partner for this endeavor. The choice was driven by EV Connect’s responsiveness, competitive pricing, and efficient delivery process—qualities that aligned seamlessly with Stillwater’s high standards.
Swift Delivery and Installation
EV Connect demonstrated exceptional agility, delivering 16 PowerCharge 40-amp EV charging stations within an unprecedented one-month timeframe. Reflecting on the experience, Landon Wood remarked:
“After just one meeting, I was pleasantly surprised by their speed and willingness to help. They delivered ahead of schedule, which was crucial for our timeline.”
A Multifamily-Centric Software Plan
The partnership’s success was further bolstered by EV Connect’s Multifamily Software Plan, meticulously designed for the nuances of multifamily living. This comprehensive platform offered features such as:
- Flexible pricing plans to balance access and discourage misuse.
- Simplified management of charging sessions, ensuring fairness and ease of use.
- Tenant-friendly payment integration, enabling charging costs to be bundled seamlessly with monthly rent invoices.
Wood noted:
“The ease of managing payments and creating bundled invoices will empower our property managers and enhance the tenant experience.”
Ensuring Longevity with EV Connect Shield
To safeguard the reliability of its charging infrastructure, Stillwater Capital opted for EV Connect Shield, a robust parts-and-labor service plan. This plan ensures:
- Certified on-site repairs within 48-72 hours, minimizing downtime.
- Comprehensive coverage, from minor fixes to full station replacements.
- Adherence to stringent service-level agreements (SLAs), offering complete peace of mind.
Such proactive measures underscore EV Connect’s commitment to post-sales support, a hallmark of its customer-centric approach.
Expanding Horizons: Future Projects and Strategic Growth
Buoyed by the success of the Crystal Springs project, Stillwater Capital is actively incorporating EV charging into its broader development strategy. With 2,700 additional units under construction, each equipped with EV charging stations, the firm is embracing the future of sustainable living.
Wood expressed his enthusiasm for this growing partnership:
“EV Connect’s consistent check-ins and proactive support reassure us that we’ve chosen the right partner.”
Key Takeaways for Developers Embracing EV Charging
Based on Stillwater Capital’s experience, Landon Wood offers strategic advice for developers exploring EV charging integration:
1. Understand Tenant Needs
Evaluate your tenant demographic. High-value tenants, particularly those drawn to tech-savvy, sustainable living, are increasingly likely to own or consider EVs. Providing state-of-the-art EV charging stations not only enhances tenant satisfaction but also serves as a strong marketing point.
2. Partner with Responsive Providers
Choose an EV charging provider with a proven ability to adapt to tight deadlines. Reliable partners like EV Connect can seamlessly manage design, permitting, installation, and maintenance, ensuring timely project delivery.
3. Harness the Power of Multifamily-Specific Software
A specialized software platform can simplify charging management while offering tenants valuable features such as:
- Flexible session scheduling.
- Transparent billing mechanisms.
- Integration with existing property management tools.
4. Prioritize Maintenance and Longevity
Invest in comprehensive service plans like EV Connect Shield to mitigate the risks of operational downtime. This ensures that your charging stations remain functional and profitable over the long term.
5. Showcase Sustainability
Highlight your EV charging infrastructure in your marketing materials and property tours. This positions your development as a forward-thinking, environmentally conscious choice.
6. Future-Proof Your Developments
Integrate EV charging into your core development strategy. With the accelerating adoption of EVs, this amenity will become indispensable for attracting tenants and boosting returns for investors.
“Looking ahead, EV charging is a key element of our strategy. It reflects our commitment to delivering exceptional value to tenants, investors, and stakeholders alike,” Landon Wood affirmed.
Conclusion: A Blueprint for Excellence
Stillwater Capital’s journey with Crystal Springs Apartments and EV Connect exemplifies the intersection of visionary planning and tactical execution. By prioritizing tenant needs, sustainability, and innovative partnerships, the firm is redefining modern living while setting a benchmark for the real estate industry.
The success of this collaboration is more than a milestone; it is a blueprint for the future of multifamily development—a future where electric mobility and cutting-edge amenities seamlessly merge to create unparalleled living experiences.
