Class A Apartment Site

Investment Overview

Site has been engineered and has full set of architectural drawings approved for single 6-story building containing 132,000 square feet. Current design is approved for 163 apartment units and 5,000 square feet of retail space on the ground floor. Parking is located on 3 parcels. The first parking lot is on the same parcel as building with the other two being across the street south and east of the site. Currently the approved layout consists of twenty 2-bedroom units and one hundred forty three 1-bedroom units. Apartments are in high demand in the Augusta MSA due to increased population growth and housing demands. One bedroom units are in particular demand in the downtown area with most new developments consisting of two bedroom units. Rental rates across the market have experienced substantial growth the last five years in the area.