Apartment complex will be ‘flagship’
Construction on an $ 8-million senior citizen apartment complex should start before the end of the year on East Belton Avenue and Hunter’s Chase Apartments is viewed as a showcase for both the city and its developers.
“We want this to be our flagship,” Gary Maddock, Megan Childers development manager, told the Rockdale Planning & Zoning Board Thursday at City Hall.
Maddock was one of four members of the development team updating city officials on the status of the 80-unit, three story complex with high-end amenities.
Planners said the complex will include a beauty salon, fitness center, men’s and women’s lounges and a walking trail.
“We hope to break ground before the end of the year,” contractor Tom Neyhart of Endgame Development said.
PRE-APPLICATIONS—Neyhart said construction will be on about seven acres and the project is expected to take about one year.
He pledged to use as many local contractors as possible. “There ought to be a lot of jobs here during the construction,” he said. “We want to be friends with the community.”
Developers expect to begin taking preapplications for apartment residents this fall.
To qualify, single residents must be at least 55. For couples, one resident must be at least 55.
Twenty-four one bedroom and 56 twobedroom units are being designed with 15 percent of the units to be handicapped accessible.
Rent will be tied to the area’s median income.
TWEAKING—Planners are still tweaking the project as their finances come into sharper focus.
Megan Childers received the crucial tax credits it was seeking but did not get federal home financing funds.
Developers originally thought they needed to shave $1 million from the project’s cost but subsequent positive changes in the tax credit situation are “narrowing that gap substantially,” according to Neyhart.
City Manager Kelvin Knauf said the city will need to extend water and sewer service to the site, which is within the city limits. Some work remains on negotiating the sewer linkup, developers said.
But a positive bottom line remains. “ We don’t anticipate any major setbacks or problems,” Neyhart said.
“We plan to be back here quite often,” Maddock said.