Phase IV work will include two major projects.
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The first is Cornerstone Apartments, which is a 300-unit complex with modern Mediterranean architecture proposed for the intersection of Cornerstone North Boulevard and the future Park Place. Some units will be next to the park with access to stores and restaurants. A pavilion also is planned for the complex.
The second project is Dogwood Commons, which is a proposed 110-unit complex intended for age-restricted housing. The single-story structures at the end of Cornerstone North Boulevard will come with garages.
Oberer Land Developers is developing the projects, and making public improvements. Cornerstone Apartments will be owned by J.A. Murphy, while Treplus Communities will own Dogwood Commons.
Cornerstone has been a magnet for restaurant and retail businesses.
As cities experience this type of growth, risk management and comprehensive protection agreements are becoming more common. Supporters say more construction activity and tighter deadlines mean that there is more to deal with in a shorter period of time.
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In this case, city officials have determined that it would be beneficial if Oberer acts as the construction manager to oversee and perform the design, engineering and construction of Phase IV with the approval of the city manager.
“As we move into Phase IV of the Cornerstone at Centerville development, we are streamlining the process as we have done in past phases,” explained Development Director Michael Norton-Smith. “We have a great partnership with Oberer, and this wraps up the remaining public infrastructure internal to the development.”
City Manager Wayne Davis said the work is in line with the city’s five-year strategic plan.
“This is far from the final phase of Cornerstone. Phase V encompasses approximately 10 acres in the northeast corner of the development. We will also work to develop Cornerstone of Centerville South, a 75-acre parcel located on the south side of I-675,” Davis said.
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5 things to know about Risk Management Agreement with Oberer:
1. The agreement is a contract with the developer to handle public infrastructure.
2. The city has had similar agreements for past phases of Cornerstone.
3. Improvements must be done by Aug. 31, 2020.
4. The agreement requires a third-party inspector to verify the work.
5. The estimated cost of the public infrastructure is $2.2 million and includes streets, sidewalks, sewer, etc.
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