JVM Realty and Xeal Expand Partnership to Install EV Chargers
Xeal, the only smart EV charging solution with a 100% uptime guarantee powered by its patented self-reliant computing technology, has announced a major expansion of its partnership with JVM Realty, a leading vertically integrated multifamily real estate investment and property management firm. This initiative marks a significant step forward in meeting the increasing demand for EV charging infrastructure in multifamily communities across the Midwest.
Expansion of the Partnership
Initially piloted in 2023, the collaboration between Xeal and JVM Realty has EV charging now expanded significantly, with over 20 sites scheduled for deployment across JVM’s property portfolio. These sites are strategically located in Illinois, Indiana, Kansas, Missouri, and Wisconsin, where electric vehicle (EV) adoption EV charging is rapidly growing. As of the third quarter of 2024, more than 188,700 EVs were registered in these states, highlighting the increasing shift toward EV charging sustainable transportation. To accommodate this growing demand, JVM Realty is taking proactive steps to ensure its properties are equipped with modern EV charging solutions, positioning itself as a forward-thinking leader in the multifamily housing sector.
Rising Demand in the Midwest Multifamily Market
The Midwest’s multifamily real estate market remains strong, driven by consistent demand and evolving resident expectations. The Chicago apartment market, for example, has experienced a 2.7% increase in asking rents year-over-year in the first quarter of 2024, with vacancy rates stabilizing around 5.6%. These figures indicate a robust and resilient rental market despite broader economic fluctuations. Similar trends are evident in other key Midwestern metro areas, including Indianapolis, Milwaukee, Kansas City, and St. Louis, where steady population growth is fueling demand for high-quality, future-proof properties.
For multifamily property owners and investors, the focus has shifted toward integrating modern, tech-forward amenities that appeal to today’s renters. JVM Realty has embraced this shift by investing in controlled building access, smart home technologies, and EV charging infrastructure. By doing so, the company is ensuring that its properties remain competitive and attractive to environmentally conscious and tech-savvy residents.
The Role of Xeal in JVM’s Sustainability Efforts
Through its partnership with Xeal, JVM Realty is making EV charging more accessible to residents across its properties. This initiative aligns with the broader trend of sustainable urban development and supports the rapid adoption of electric vehicles. By installing reliable and user-friendly EV charging stations, JVM is not only enhancing convenience for current residents but also attracting new tenants who prioritize sustainability and innovation in their housing choices.
“JVM is setting a new standard for its communities by scaling investments in reliable, differentiated, and must-have amenities that meet the needs of the modern-day renter,” said Zander Isaacson, CEO of Xeal. “We are thrilled to expand our partnership with JVM, focusing on delivering the best EV charging experience for residents across their portfolio.”
The Importance of EV Charging in Multifamily Communities
As the transition to electric vehicles accelerates, access to reliable charging infrastructure is becoming an essential amenity for apartment communities. Many prospective renters now consider EV charging availability a deciding factor when choosing a place to live. Recognizing this shift, JVM Realty has prioritized the integration of Xeal’s cutting-edge charging technology into its properties, reinforcing its commitment to providing forward-thinking, sustainable living solutions.
Xeal’s proprietary self-reliant computing technology ensures that its charging stations operate with a 100% uptime guarantee. Unlike conventional network-dependent chargers, Xeal’s infrastructure eliminates connectivity issues, allowing residents to charge their vehicles without disruptions. This reliability not only enhances the resident experience but also supports property managers by reducing maintenance costs and operational inefficiencies.
Enhancing Resident Satisfaction and Property Value
Investing in high-quality, technology-driven amenities such as EV charging stations plays a crucial role in increasing resident satisfaction and retention rates. Modern renters expect seamless, tech-forward living experiences, prompting property owners to invest in value-added amenities that enhance overall appeal.
By deploying Xeal’s chargers, JVM Realty is positioning itself as an industry leader in resident-centric innovation. Reliable EV charging options contribute to a more convenient and sustainable lifestyle, making properties more attractive to environmentally conscious tenants. Additionally, the presence of EV chargers can increase a property’s desirability, leading to higher leasing velocity and improved occupancy rates.
Furthermore, these capital improvements bolster property values by future-proofing developments against evolving market trends. As the adoption of EVs continues to rise, properties equipped with reliable charging solutions will have a competitive edge in the rental market. By making strategic investments in sustainable infrastructure today, JVM Realty is securing long-term financial and operational benefits for its multifamily portfolio.
A Digital-First Approach to Property Management
JVM Realty’s expansion of EV charging infrastructure aligns with its broader strategy of delivering a seamless, digital-first living experience. The company has consistently invested in cutting-edge technology solutions to enhance the resident experience, from managed Wi-Fi services to smart home integrations and pet-friendly amenities.
EV charging represents another critical component of this strategy, addressing both environmental sustainability goals and the practical needs of modern renters. By partnering with Xeal, JVM Realty is ensuring that its properties remain at the forefront of innovation, setting a new standard for multifamily communities in the Midwest.
