The purchase is another step in what city of Kettering officials have said will be the “biggest residential development in the city in a number of decades."
The sale price was $4,050,000, for 28.541 acres.
Developer Vision Development proposed a 264-unit multifamily community in Kettering’s part of Miami Valley Research Park. The sprawling park also has land in Beavercreek.
The seller in the transaction was Miami Valley Research Park LLC. Records dated the transaction as July 1.
The apartment complex, called “VC Flats,” will be built on about 12 acres of a 28-acre parcel at the northwest corner of Research Boulevard and County Line Road near the shared municipal border with Beavercreek. Access would be a tree-lined street off County Line Road with a secondary access off the east-west oriented Research Boulevard.
The complex would include nine three-story buildings with 423 parking spaces plus a two-story clubhouse with a rooftop deck overlooking a pond, the Dayton Daily News previously reported.
Much of the park is already devoted to offices, labs and business spaces.
In response to questions from the Dayton Daily News, Vision Companies and Industrial Commercial Properties jointly released a statement confirming the purchase Monday.
“As part of the Sixth River overall master plan, Vision plans to construct a premier market-rate multi-family housing community, the first large multifamily project built since the mid-1980s in the city of Kettering,” the company said.
The development will provide much-needed housing options for the more than 4,400 employees working within the research park, the business said.
Planned amenities include a clubhouse, fitness center, pool, sand volleyball court, outdoor patio and a rooftop deck offering views of the adjacent lake.
“As Kettering and the Miami Valley Research Park continue to grow, it is vital for area’s housing mix to keep pace,” Brent Wrightsel, Vision Companies founder, said in the company’s release. “VC Flats will be a critical part of the overall housing solution, a premiere apartment community that will be help keep pace with the ongoing influx of people to this thriving community.”
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