Xeal has expanded its partnership with JVM Realty, a multi-family real estate investment and property management firm. The collaboration includes deploying smart electric vehicle (EV) charging solutions using Xeal’s self-reliant computing technology.
Initially launched in 2023, the partnership is expanding with plans to install EV charging stations at over 20 JVM Realty properties in Illinois, Indiana, Kansas, Missouri, and Wisconsin.
As of Q3 2024, more than 188,700 EVs were registered in these states, and JVM is preparing for the increasing demand for charging infrastructure.
The multi-family real estate market across Midwest states remains strong, with steady demand and evolving resident expectations driving investment in modern amenities. The Chicago apartment market saw a 2.7% increase in asking rents year-over-year for the first quarter of 2024 with vacancies hovering around 5.6%. These metrics showcase the city’s healthy market resilience amid broader economic shifts.
Similarly, key metro areas, including Indianapolis, Milwaukee, Kansas City, and St. Louis, are experiencing a surge in multi-family development fueled by population growth and increasing demand for high-quality, future-proof properties. JVM Realty is incorporating controlled building access, smart technology, and EV charging infrastructure to adapt to evolving market needs.
Today’s residents seek modern, technology-driven living environments, leading property owners to invest in amenities that enhance appeal and satisfaction. The addition of EV charging infrastructure supports operational efficiency and resident retention, contributing to quicker leasing and the development of a property portfolio that meets current renter demands.
JVM’s latest expansion is part of its broader strategy to provide digital-first, seamless living experiences. The company integrates key amenities for multi-family properties, including managed Wi-Fi, pet-friendly features, and essential parking infrastructure.
Filed Under: Charging, Technology News