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Watermark Residential execs promise $27 million Hurstbourne apartments will compare to Dallas, larger markets

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The eUrban design (detail.) Click to enlarge. (Images courtesy of Watermark Residential.)

If you travel frequently to Washington, D.C., or even to Indy and to Nashville, you notice Louisville’s apartment offerings are limited, not to mention pretty dated.

Especially for young professionals in the pre-home purchase mode coming here from Boston, Atlanta or Chicago, or for executives assigned here on fixed term assignments.

Mallard Crossing?

Really?

Well, all that might be about to change.

Indianapolis-based Watermark Residential is planning a $27 million apartment complex on North Hurstbourne Parkway near Dorsey Lane, and close to the Forest Green Corporate Office Park.

Humphreys & Partners' Big House design.

We broke the news Monday that Watermark execs just bought a 17-acre parcel for $3 million through PRG Investments, property that had been taken back by Republic Bank & Trust Co. after a failed deal.

Yesterday, we heard from Watermark Managing Partner Eric Garrett that the 270-unit Watermark complex here will be “a product type that doesn’t exist in Louisville.”

We take it to meant better than what we have in Louisville.

The designers are by Dallas-based Humphreys & Partners Architects, which has designed luxury apartment complexes in major markets such as Dallas, Houston, Las Vegas, Jacksonville, Fla. and the Washington, D.C. area.

Humphreys & Partners designed the Bristol West End complex in Nashville near Vanderbilt University.

Watermark renderings for Louisville show two different styles of buildings, though both incorporate stone into facades.

The Big House design, developed by Humphreys & Partners, resembles a single-family home, Garrett said.

The tw0-story apartments will have a front door/ single point of entry rather than stairwell access, he said. Interiors will feature granite tops in the kitchens and crown molding throughout the units, which range up to three bedrooms, and 1,100 square feet, Garrett said.

The eUrban design is a more conventional multi-floor, multi-unit design.

Plans in Louisville call for 21 apartment buildings, a large clubhouse and pool with outside amenities.

The apartments will rent for $1,000 per month to about $1,700 per month.

 

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