The company said, "Planned incremental direct capital investment in development and redevelopment projects during 2023 is expected to be between $165 – $185 million. Aimco’s incremental equity investment is expected to be approximately $45 million with the remainder funded through previously committed third party debt and equity. Aimco expects to have projects with $815 million of total direct costs, inclusive of land or leasehold value, underway during 2023 and expects those projects to produce annual NOI of approximately $55 million once fully stabilized. In 2023, Aimco plans to: Complete the construction and lease up of The Hamilton with NOI stabilization projected to occur in 2024; Deliver initial single family rental homes and begin the lease-up of Oak Shore with NOI stabilization projected to occur in 2025; Deliver initial apartment homes and begin the lease-up of Upton Place with NOI stabilization projected to occur in 2026; and Complete construction and welcome its first guests to The Benson Hotel and Faculty Club with NOI stabilization projected to occur in 2026."
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