A local real estate firm is bringing a luxury multifamily development to the Southside area.
Harbert Realty Services closed on a new development that will feature 120 units with state-of-the-art amenities and be named Artisan Flats.
Located at 2722 Fifth Ave. S., the project will take over the historic textile building that once housed American Bakeries Co. cracker plant for 30 years until it was reopened as ABSCO Fireplace & Patio in the 1980s. Before construction could begin, demolition of the existing structure was slated to begin in November. Remnants of the materials will be recycled into the new construction. CBI Construction Services, Fifth Dimension Architecture and Interiors, Caprine Engineering, Renta Urban Land Design, Bhate and Building and Earth Sciences also played key roles in this development.
Artisan Flats will be a Class-A community located within walking distance of both Lakeview District and Pepper Place. Class A properties are generally newer, high-quality buildings set in an attractive market that appeals to high-income tenants and usually have low vacancy rates.
Each unit in the luxury multifamily property will include stainless steel appliances, quartz countertops, kitchen islands, smart home technology, wood plank vinyl floors, large walk-in closets and private patios/balconies. Other amenities include an elevated resort style pool, outdoor grilling stations and fire-pits, high-tech package room, luxury pet spa, scenic roof terrace, controlled access, 24/7 fitness center with private studio, managed WiFi throughout with 1 GB internet and covered parking.
A portion of the equity for the project was provided by investors gathered through the crowdfunding platform Crowdstreet.