As any redevelopment professional knows, the challenge of turning an aging, crime-ridden, Section 8 property into a trendy, coveted, market-rate lifestyle community is no small task. It requires vision, planning, enthusiasm and fearless execution. But with the right attitude, aggressive mobility and perhaps a little luck, amazing transformations can become reality. In Oklahoma City, there’s one taking place right now at a 223-unit multifamily community formerly known as Park Place. Purchased by Haley Real Estate Group early this year, renamed Capitol on 28th and now undergoing a major facelift, the future is looking mighty bright for this previously run-down complex constructed in the late 1960s. With an ideal location near the state capitol and the University of Oklahoma Health Sciences Center, it is poised to become a sought after address for medical and government professionals. “It’s an ideal location for an urban contemporary community,” said Troy Arnold, regional vice president for DEI Communities, Haley’s property management arm. With that focus, DEI expects to spend $8 million on renovations and improvements. Not far from downtown, with easy access to public transportation and biking or walking proximity to two major employment centers, the potential of the location was evident. But an overhaul of the existing infrastructure, entailing major construction, was required. Yardi client DEI started an aggressive effort to change the tone at Park Place the day escrow closed on the $4.2 million sale. Crime at the property had been a major problem, with up to 900 calls to law enforcement from the address between late 2011 and 2012. DEI brought in 24-hour security by hiring off-duty police officers from the Oklahoma City police department. They also started limiting guest access only to those who were verified visitors of residents. Without wasting any time, the new...