A Birmingham-based CRE firm Capstone Communities has broken ground on 25-acre multifamily development in north Alabama.
The Cottages at Old Monrovia, a low-density multifamily development in Huntsville, is expected to be complete by spring 2021.
The development will include 275 units developed with a “new urbanism” style to primarily attract young professionals, new Huntsville residents and empty-nesters looking to downsize.
According to a release, The Cottages at Old Monrovia will predominately feature single-story attached homes, each with a private fenced yard, as well as a mix of lofts and two-story townhomes. Other resident amenities include nine to 12-foot ceilings, granite countertops, wood-grain flooring, in-unit washers and dryers, a smart home technology package, fitness center, resort-style pool, centralized clubhouse, dog park, electric car charging stations, car care center, pet spa, 24/7 on-call maintenance and optional enclosed garage parking.
“Our goal is to build a unique community and true sense of place at The Cottages,” said John Acken, executive vice president of development for Capstone Communities. “With plenty of sidewalks, pedestrian features and open green spaces, we want to create a safe and walkable community where residents can look forward to spending time outside enjoying cookouts, hosting community events and connecting with their neighbors.”
Birmingham-based OG Capital is also working on the project. Nequette Architecture & Design is the lead architect. Construction financing was provided by Trustmark National Bank and Renasant Bank.