Secretary of Housing Dr. Ben Carson Visits Capodagli Properties
LINDEN, N.J., Jan. 11, 2021 /PRNewswire/ -- George M. Capodagli, the founder and owner of Meridia Living and Capodagli Property Company founded his business in the seventies on one simple idea; invest where others are afraid to. Underserved towns and underprivileged inner cities are areas many developers do not want to invest in as these areas typically do not yield quick returns on investments. Capodagli, growing up in a so-called "Opportunity Zone " himself knew firsthand that with a little bit of help, the forgotten areas have a great potential.
The ambitious and charismatic self-starter diligently kept on working with the local governments pitching them his ideas and within a few years, his hard work started paying off. He started with his first project in Newark and then he continued to build in Garfield, Wallington, Rahway and many other New Jersey towns. Capodagli believes that everyone deserves quality living and his buildings always include state of the art appliances, gyms, community areas and the highest quality of service and security. Creating communities and a sense of belonging is important to Capodagli and his properties are always moderately priced.
Capodagli's efforts have been recently noticed by the Trump administration and Dr. Ben Carson, Secretary of Housing and Urban Development. The developer was invited to the White House in recognition of Capodagli's major work in opportunity zones. He was asked to share his ideas and the secrets to his success. Meridia Living, the property management aspect of the company, works diligently to meet all resident needs and foster a sense of belonging in the buildings they manage. During the pandemic Meridia Living was able to keep their buildings over 99.2% occupied and fully leased Meridia On Westfield in Roselle Park. Less than 1% of Meridia Living residents defaulted on their rent payments and Capodagli credits it to human nature, "People will do right by you and stay loyal if you give them a chance when they need it," said Capodagli. "Our tenants are hardworking people who deserve to live comfortably, and they appreciate it. And we appreciate them being a part of our community." With high tenant satisfaction and retention rates, the visit from Dr. Carson was driven not just by the number of opportunity zone projects but also by the high success of Meridia Living's property management team.
On December 21st, 2020, Meridia Living and Capodagli Property Company celebrated not one, but two grand openings: in Rahway, the Brownstone complex opened its doors with 300 modern apartments to come (170 already available), a gym and indoor/outdoor pool that is coming soon. In Hackensack, the Meridia On Main building with 106 units and Cap Diner, conveniently on the first floor, is already home to locals who frequently visit the restaurant that offers modern American cuisine in an ambient atmosphere.
Secretary Carson surprised Capodagli by attending both grand openings and a small meet and greet with the local mayors and officials. Capodagli is known to support local governments not just by investing in their towns but also by supporting the local fundraising efforts and charity causes. "The community is only as strong as its weakest link, so it is our responsibility to help when we can," said Capodagli.
Carson was impressed that despite the pandemic Meridia Living and Capodagli properties kept people employed and continued on with the work as planned. Capodagli understands that whether a global health crisis or not, people need a home and he vowed to finish what he started. When asked about the key to his success, Capodagli said:
"I have been blessed to work with people who appreciate and share my vision. My employees are like family to me and we all understand that we are all in this together. Through the good and the bad, we lean on each other and support one another. I couldn't do it alone, no one could. Gratitude goes a long way and counting your blessings will get you through anything."
About Meridia Living and Capodagli Property Company
Capodagli Property Company is a full-service real estate development, construction, and property management firm specializing in multi-family and mixed-use real estate projects. We get things done. Capodagli Property Company is known for completing projects in an efficient, timely, budget-conscious and environmentally friendly manner. As we work toward the future, we will continue to instill our beliefs in the next generation of the Capodagli family and organization.
The ability to effectively manage and lease projects is key to our success. Capodagli Property Company has a subsidiary arm in Meridia Living, an internal leasing and property management team comprised of local and corporate level professionals. Meridia Living strives to ensure all properties are well maintained and fully occupied while instilling a sense of belonging towards its residents. We host tenant appreciation breakfasts, as well as planned events and outings to bring people together. Meridia's overall mission is to provide its residents with the highest level of ambiance in a welcoming social environment, which fosters a sense of family belonging.
For more info contact: (Florencia Mansilla; [email protected]; 973.694.3000 ext. 17)
SOURCE Capodagli Property
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