Montgomery planners approve rezone for 264-unit apartment complex
MONTGOMERY, Ala. (WSFA) - A developer can move forward with a 264-unit apartment complex on Chantilly Parkway after getting approval from the Montgomery Planning Commission Thursday evening.
With a unanimous vote, city planners approved to rezone three parcels on the site near Walmart from commercial to multi-family residential.
Cedric Campbell, of Goodwyn, Mills & Cawood, represented Lowe’s Home Center, Inc. at the public hearing. The home improvement chain planned to open a nearly 120,000-square-foot store on the property in 2010. Lowe’s eventually backed out and real estate agents haven’t been able to attract other tenants to the site.
Campbell said One Real Estate Investment plans to purchase the property from Lowe’s. He added that monthly rent at the “Class A” development would be around $1,600 - $1,700.
The project calls for:
- 11 three-story resort-style apartment buildings
- 8 units per story
- 24 apartments per unit
- Clubhouse w/ fitness center and other amenities
- Cabana area
- 415 parking spaces
- 354 regular
- 26 handicap
- 35 garage
According to Campbell, One Real Estate Investment chose this specific site due to the Amazon and Manna Beverages facilities — and others — coming to the area.
Campbell added that the new apartment complex would share the existing signalized intersection to Walmart and other retailers on Chantilly Parkway. He noted that traffic for the apartment complex would be about 57% less than it would for a Lowe’s store.
The measure will now have to go before city council.
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