CENTERVILLE — Two upscale Cornerstone of Centerville apartment complexes combining for at least $65 million in investment and 370 units are expected to start occupancy this spring.
Cornerstone Apartments and Dogwood Commons will feature one- and two-bedroom units and together consume nearly 25% of the 156-acre mixed-use development off Wilmington Pike north of Interstate 675, records show.
“Those are significant investments not only for the city of Centerville, but also the Cornerstone of Centerville development,” said Michael Norton-Smith, city development director.
“We think those apartments are highly visible for the city and we think they are very attractive options for the types of professionals that we’re looking to attract,” he added. “And we think both of those help to round out what is a very successful development.”
Cornerstone developer Oberer has attracted a variety of retailers, restaurants, other businesses and housing to the sprawling site near the Kettering border.
Cabela’s, Cooper’s Hawk Winery & Restaurants, Costco, Kroger and Wright-Patt Credit Union are among the more than 20 businesses on site, while Kettering Health has a 10.5-acre undeveloped corner lot, Oberer records show.
The apartment complex sharing the development’s name is a $35 million to $40 million project that will include 260 units in six, four-story buildings, said Andy Broome, construction director for developer the J A Murphy Group.
The Knoxville, Tenn. business expects to have the first building on the 18-acre site done in about a month, Broome said. Leasing of the units that will range from about 1,000 to 1,600 square feet will start then, he said.
“We’ll probably turn them over in three phases with a couple of buildings at a time,” Broome said.
Attempts to obtain leasing prices and other details were unsuccessful.
Leasing has already started at Dogwood Commons, where the first of what will be 110 units is also expected completed and occupied in a similar timeframe, said Jane Arthur-Roslovic, CEO and co-founder of Columbus-based Treplus Communities.
The estimated $30 million project on nearly 20 acres will be a 55-plus, age-restricted complex, she said. Units will range from 1,200 to 1,600 square feet and lease for $1,915 to $2,895 a month.
The one-story units will have attached garages and include “wide hallways, lever handles, (and) absolutely no steps throughout the unit, even into the shower,” Arthur-Roslovic said.
They will also feature extensive lighting, elevated electrical outlets and an option to have grab bars installed on walls, but the units will cater to “active adults,” she said.
The complex will include a community garden, a commons area with a fitness center, a catering kitchen, a bourbon and billiards room, and a business center for residents not yet retired, Arthur-Roslovic said.