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3 Asheville apartment projects approved

Rents for all complexes will be market-rate.

Distressed Homes Purchaser in Asheville :

ASHEVILLE – Hundreds of downtown apartments in three different complexes will become available during the months ahead.

Members of the Asheville Planning & Zoning Commission on Thursday approved a total of 318 new apartments:

• 146 units at 185 Coxe Avenue.

• 140 units at 55 South Market St.

• 32 units at 56. South Lexington Ave.

The commission’s approval is final and the projects do not need to be reviewed by city council.

The Coxe Avenue property, known as the Ledford Site Apartments, will be five stories and include a 288-parking garage.

South Slope Holdings LLC, based in Wilmington, is developing the property.

The footprint for the project is 1.71 acres.

“The building has two courtyards, which effectively breaks the façade into three sections” of equal width, according to city planning documents.

Bricks will be of two colors: “tan and a darker shade of brown.”

Asheville Planning Department documents did not provide further information on the project.

Estates and Companies, a real estate company based in Columbia, South Carolina, is developing the property at 55 South Market St.

The complex will offer market-based rents for the studio, one-bedroom and two-bedroom apartments.

Units will range in size from roughly 525 square feet to about 1,300 square feet.

Construction on the 1.13-acre parcel could begin by late summer.

Each unit will have a designated parking space.

Two levels of parking and five floors of residential space will compose the building. The parking levels will contain 136 spaces. Commissioners approved a variance allowing another six parking spaces on South Spruce Street.

The complex height will be 72 feet and comprise 132,150 square feet in gross floor area.

Asheville-based Public Interest Projects Inc.’s Garage Apartments will offer 32 market-rate apartments at 56 South Lexington Avenue.

Space for a commercial operation also will exist at the five-story building. That will be retail, according to city Planning Department documents.

Construction on the 0.19-acre parcel behind the Aloft Hotel could begin in late summer or early fall.

Twenty-four of the units will be one-bedroom apartments measuring about 500 square feet to 600 square feet.

Three one-bedroom apartments will be 775 square feet with options including a dining area, an office area or a small second bedroom.

Eight two-bedroom apartments will measure between 760 square feet and 860 square feet.

Five of those units will be townhouse-type units opening onto the sidewalk on Lexington.

The commercial space will be on a corner and offer outdoor seating.

Non-townhouse apartments will include balconies overlooking Lexington Avenue.

Dedicated parking will not exist. But the complex will be connected by a doorway to an upper floor of the parking garage at 51 Biltmore Ave.

An elevator will serve the upper floors from the lobby on Lexington.

The building will comprise about 33,000 square feet.

via  Mike Cronin, [email protected]9:11 p.m. EDT July 17, 2015