In the cutthroat world of San Francisco real estate, where properties can go from hot to forgotten faster than a tech startup’s IPO, one woman is stepping up to rescue Parkmerced, the city’s largest residential complex that’s been left to decay.

From Ruins to Renaissance

Michele Vives, president of Douglas Wilson Companies, has inherited a mammoth challenge: transforming a 152-acre housing complex that’s been neglected into a livable community. After Maximus Real Estate Partners defaulted on a staggering $1.8 billion in loans, Vives is parachuting in to save the day.

Fixing What’s Broken

The World War II-era complex has seen better days. Water damage has ravaged the buildings, paint is peeling, and infrastructure is crumbling. Vives’ first move? Replacing all water heaters and boilers across 11 apartment towers. Her team plans to invest over $70 million to breathe new life into these buildings.

A Community Reborn

With occupancy rates hovering around 80%, Vives aims to attract residents by hiring on-site property managers, making swift repairs, and renovating over 400 units. Her ultimate goal isn’t just fixing buildings, but restoring hope to a community that’s been forgotten.

“We just need to start doing stuff, period,” Vives declares - and in San Francisco, that’s exactly the no-nonsense attitude we love.