More EV chargers, more convenience: JVM Realty and Xeal expand Midwest partnership

JVM Realty is expanding its electric vehicle (EV) charging network in partnership with Xeal, a company specializing in self-reliant smart charging technology. This expansion, which follows a successful pilot program in 2023, will see the deployment of EV chargers across 22 multifamily properties in Illinois, Indiana, Kansas, Missouri, and Wisconsin. By investing in cutting-edge EV charging infrastructure, JVM Realty is positioning itself at the forefront of a growing market trend where sustainable, tech-driven amenities play a crucial role in resident satisfaction and property value.

The Midwest is experiencing a surge in EV adoption, with over 188,700 registered electric vehicles across these states as of Q3 2024. This rapid transition underscores the necessity for property owners to integrate reliable charging solutions into residential communities. By prioritizing EV charging reliability, JVM Realty aims to enhance its portfolio’s long-term competitiveness while meeting the evolving expectations of renters who seek seamless, sustainable living experiences.

Why Is EV Charging Becoming a Critical Amenity in Multifamily Housing?

The real estate landscape is undergoing a transformation as renters increasingly seek properties that offer sustainable and tech-enabled amenities. EV charging infrastructure has become a key differentiator in multifamily housing, with property owners recognizing its role in both attracting new residents and retaining existing tenants.

JVM Realty’s strategy reflects a broader industry shift where multifamily property technology is evolving beyond traditional conveniences to include high-tech, future-proof solutions. As Steve Boyack, Chief Operating Officer of JVM Realty, has emphasized, the company is committed to anticipating the needs of modern renters. He has highlighted that investments in EV charging infrastructure align with the company’s goal of providing cutting-edge services that enhance the living experience while reinforcing the brand’s commitment to sustainability.

Industry reports suggest that access to EV charging reliability is becoming a significant factor in leasing decisions. Properties that offer EV charging infrastructure often see increased leasing velocity, reduced vacancy rates, and improved long-term asset value. By expanding its partnership with Xeal, JVM Realty is ensuring that its properties remain competitive in a rapidly shifting market where environmentally conscious investments play a central role.

What Sets Xeal’s EV Charging Technology Apart?

Xeal has emerged as a leader in EV charging reliability, offering a 100% uptime guarantee through its patented self-reliant computing technology. Unlike traditional network-dependent chargers that rely on centralized cloud systems, Xeal’s solution eliminates single points of failure, ensuring uninterrupted service for residents.

For multifamily property owners like JVM Realty, this EV charging infrastructure provides several advantages. It reduces operational disruptions, eliminates costly maintenance linked to connectivity issues, and enhances overall resident satisfaction. Xeal’s smart technology also integrates features such as metered payments, energy management, and controlled access, ensuring a seamless charging experience while maximizing efficiency for property owners.

Zander Isaacson, CEO of Xeal, has emphasized that JVM Realty’s expanded investment in EV charging infrastructure reflects its forward-thinking approach. He has pointed out that as more renters transition to electric vehicles, properties equipped with EV charging reliability will become industry benchmarks for modern, sustainable living.

How Is the Midwest Multifamily Market Adapting to EV Growth?

The demand for multifamily property technology and sustainable amenities is steadily increasing across the Midwest, with major cities such as Chicago, Indianapolis, Milwaukee, Kansas City, and St. Louis experiencing robust growth in multifamily development.

Recent data indicates that the Chicago apartment market saw a 2.7% year-over-year increase in asking rents in Q1 2024, with vacancies stabilizing at 5.6%. These figures highlight the resilience of the region’s real estate sector and the increasing emphasis on future-ready amenities such as EV charging infrastructure.

JVM Realty’s investment in EV charging reliability aligns with these market trends, ensuring that its properties remain attractive to residents who prioritize convenience and sustainability. By integrating EV charging infrastructure into its multifamily portfolio, the company is not only responding to current demand but also future-proofing its properties against evolving industry expectations.

What Does JVM Realty’s Expansion Mean for the Future of Multifamily Sustainability?

The growing adoption of electric vehicles in the Midwest is driving demand for EV charging infrastructure, and property owners who proactively invest in EV charging reliability are poised to gain a competitive edge. State and local incentives, along with increasing environmental awareness, are accelerating the transition to electric transportation, making EV charging infrastructure an essential component of modern real estate developments.

JVM Realty’s expanded partnership with Xeal signals a broader industry trend where multifamily property technology is evolving to meet the sustainability and convenience expectations of today’s renters. By embedding EV charging infrastructure into its properties, JVM Realty is reinforcing its reputation as a forward-thinking real estate leader committed to innovation and long-term value creation.

As EV adoption continues to rise, investments in EV charging reliability will play a crucial role in shaping the future of the multifamily housing market. JVM Realty’s strategic approach positions it as a leader in integrating multifamily property technology, ensuring that its communities remain at the forefront of modern, tech-enabled living.