“The goal is to serve an underserved community as it pertains to multi-family housing,” said Matt Canterbury, president of development at Homestead Development, the company leading the project. “This property is primed to serve not only residents of Huber Heights, but those that commute to the greater Dayton area.”
Construction on the $30 million project will begin this week and is anticipated to be completed within 15 months, according to Canterbury, but rentals will begin to become available within a year with pre-leasing options being offered as early as October of this year.
“We anticipate a lot of our renters are going to be young professionals or even established professionals that want the proximity to the freeway to get to and from work in Dayton, Springfield, or even Columbus,” Canterbury said.
The Hayden will consist of mostly two-bedroom units, with about 40% to be one-bedroom apartments. The one-bedroom units will be around 700 square feet for rent at about $1,100, and the two-bedrooms will be around 1,100 square feet at a price of $1,400 per month.
“We’re going to open in phases,” he said. “We’ll have six apartment buildings on site and one community clubhouse. The clubhouse, along with three of the buildings, will open in 12 months, then the other three buildings will lag just a little bit behind.”
Retail, road development
The Hayden project will be developed on an eight-acre parcel of land, and is one of two projects taking place in the immediate area. Just south is a parcel set to be developed as a retail complex by Broad Reach Retail Partners, according to Huber Heights City Manager Bryan Chodkowski, who provided preliminary information about this project. Broad Reach will tear down the former Swan Lake apartment buildings that are currently on the property.
In connection to the project, Broad Reach and the city will also work on road improvements, including the widening of Old Troy Pike, to limit traffic congestion in the area of the projects.
“We’re looking to reconfigure some new driveways, put in a new traffic signal, and add another northbound lane from Taylorsville to the highway, which will improve traffic flow through there,” Chodkowski said.
Broad Reach did not immediately respond to questions about details of their development plans.
Homestead is also spearheading another development project a few miles away at the former Marian Meadows Shopping Center, located in the 6100 block of Brandt Pike, just north of Fishburg Road.
That $40 million project will include construction of 192 market-rate apartment units and a 133-unit senior housing development. Construction is set to begin this year, with a completion goal of October 2024.