Quote:
Originally Posted by Saj07
Just looking at it, it doesn't excite me to want to move there. Seems like an assisted living place or a big more dressed up version of that bland hotel behind the VBC.
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This is the current style of urban apartments which are 4 to 6 stories tall, often with an interior parking garage which is not visible from the street. Restaurants, and stores are often within a short walk of these apartment developments.
It seems that Miller Capital, the owners of Bridge Street, believed that they needed to add a residential component in order to compete with all of the other mixed use developments - The Village of Providence, Mid City Huntsville, City Centre, and Town Madison all of which boast having some form of apartment dwellings.
Almost all of the new apartments being built seem to cater to the high end. If all of the proposed area projects pan out (the 4,000 plus FBI jobs at the Arsenal, Blue Origin at Research Park, the possible Toyota/Mazda plant on the TVA Megasite in Limestone County) then they shouldn't have any trouble leasing them. However, if none of these projects happen, the owners will have trouble getting rents approaching $1,000 a month for a one bedroom and rents overall will fall.