The Heights at Olde Towne (now incorporated into The Myrtles at Olde Towne) consists of two twin eight-story towers that had fallen into significant disrepair prior to 2004. The property was acquired by Roseland Property Company and Prudential Life due to its strategic location directly across the street from The Myrtles at Olde Towne. The overall site encompasses approximately four acres and includes 148 apartment homes, yielding a density of 37 units per acre. The property is characterized by expansive parking fields, resulting in parking well in excess of market requirements.

The redevelopment required a comprehensive renovation of each apartment interior as well as the complete replacement of all mechanical systems to meet contemporary market standards. New windows were installed throughout the buildings to capitalize on the expansive views of the Elizabeth River. In addition, the exterior of both towers was fully renovated, and new shared amenities were introduced, including a clubhouse, fitness center, media room, laundry facilities, and a pool area.

Following the renovation, the property was fully repositioned in the market with a renewed rent roll and an entirely new resident base. Today, The Heights at Olde Towne offers a first-class housing alternative for area employees seeking strong value in a high-quality residential setting. The community maintains consistently high occupancy and achieves top-of-market rental rates for a 30-year-old building.

The property was ultimately sold in conjunction with The Myrtles at Olde Towne to a national multifamily REIT at a record-setting price for the Hampton Roads market.