Project: Glen Hollow Apartments.
Location: 9449 Dayton Pike in Soddy-Daisy.
Owner: Glen Hollow Apartments LLC, a group of investors from Bentwood, Tenn., affiliated with Haven Development LLC that owns multiple properties in the state.
Architect: Bernard L. Weinstein & Associates in Nashville.
General contractor: BACAR Constructors Inc. in Nashville.
Civil Engineer: MAP Engineering in Chattanooga.
Marketing and leasing: RAM Partners LLC in Atlanta.
Investment: $15 million.
Description: The 128-unit apartment complex on 10 acres just off Highway 27 along Dayton Boulevard near the Harrison Lane exit includes one- and two-bedroom apartments built around a 2,778-square-foot clubhouse.
Rental rates: The 24 one-bedroom, single-bathroom units will rent for $895 a month; the 26 two-bedroom, single-bathroom units will rent for $1,095 per month; the two-bedroom, two-bathroom units will rent for $1,195 a month.
Reason for project: Josh Schultz, president of Haven Development, said with the growth in the area and the lack of major new apartment complexes, "we saw an opportunity" to acquire the vacant property and build rental units. "Our community beckons those who prefer quiet living and fantastic amenities but still want to be close to metropolitan attractions," he said. "This will be the city's first class-A asset and will provide a clubhouse with community room, salt water pool, fitness room, all appliances including washer and dryer, all vinyl plank flooring and each unit has a patio or balcony."
Schedule: Construction should be complete by Nov. 1. The clubhouse opening for pre-leasing begins Monday, pending final inspections, and the first units should be available by September. Developers hope to lease the entire complex within 10 months.
— Compiled by Business Editor Dave Flessner who may be reached at email@example.com or 423-757-6340.