Real Estate News

Luxury downtown apartment complex lowers rent, changes name

The “Sky Lounge” is on the seventh floor of ReNew Wichita, formerly known as The Douglas.
The “Sky Lounge” is on the seventh floor of ReNew Wichita, formerly known as The Douglas. The Wichita Eagle

The Douglas is no more.

The 240 posh downtown apartments at Douglas and Market will now be known as ReNew Wichita — the result of a recent change in management.

As of last Friday, the apartments at 200 E. Douglas are managed by California-based Trinity Property Consultants. Previously, they were managed by the South Carolina-based Greystar, which operated the complex since its opening last year.

The most notable change: Rent has been lowered by about $200 per apartment.

Studios now start at $650 per month, while one-bedrooms start at $850 and two-bedrooms start around $1,200.

Previously, the cheapest studio at The Douglas rented for about $890 per month.

“The property’s gorgeous, but the main thing we hear from people is the price point,” said Kim Lewis, who is the new community manager for ReNew Wichita.

The property is currently at about 74-percent occupancy, Lewis said.

The new management wants to fill those vacant units — so much so that the first 10 applicants who move into the complex will receive two tickets for a Royal Caribbean cruise (good for up to three years).

“The reason we’re a little more motivated than normal is because we’re at the tail end of leasing season,” Lewis said. “We just don’t want to go into the winter months and have a huge amount of vacancies.”

All the amenities of the luxury complex will stay: included with the rent, residents get valet parking, 175 cable TV channels and internet, as well as access to the “Sky Lounge” with rooftop wading pool, a “bark park” with dog wash, a 24-hour fitness center and more.

Residents only pay for their rent, water and electric.

“You’re getting more than just an apartment,” Lewis said. “You don’t even have to leave your home.”

Trinity has also added a 24-hour phone line for residents to call with questions.

So why the ReNew name?

Trinity Property Consultants has multiple apartment complexes around the country that share the “ReNew” name: ReNew Redlands, ReNew Peachtree City and more.

That brand signifies properties that perhaps are in older parts of town, with character, that “revitalize the market,” Lewis said.

“It’s just like we’re renewing the city — we’re renewing Wichita,” Lewis said.

New signage will be installed at the property in about a week.

The complex encompasses two buildings — the 11-story former Bitting building on the northwest corner of Douglas and Market and the former Exchange Place building on the northeast corner. The project, which opened in April 2017, was a nearly $38 million development.

Right now, ReNew’s website is still under construction — the best way to get more information is to visit the leasing office in person at 200 E. Douglas or calling 316-768-6776. It’s open from 9 a.m.-5:30 p.m. Mondays through Fridays and 10 a.m.-5 p.m. Saturdays.