Before the 144th running of the Kentucky Derby, construction crews are expected to have completed a substantial portion of two high-end developments along East Broadway.
The 195-unit apartment complex named Highland Station is already accepting reservation for 2018, Insider reported earlier Monday. Lisa Minklei, a project manager for the developer Edwards Communities Development Co., narrowed the timeline down even further.
Edwards anticipates the first tenants will move in starting February after work wraps up on roughly 70 of the 195 apartments. Construction on Highland Station should be finished in April.
Because the apartment complex sits on a “tight urban site,” which can draw out the construction timeline, Minklei said, the company decided to stagger the completion of the units.
Edwards is mainly focused on leasing apartments at Highland Station, but in May, tenants are expected start moving into Edwards’ other larger development, a mixed-use project called The Baxter.
The company plans to start working with first-floor retail tenants prior to May to start building out their spaces, Minklei said, though work on The Baxter will likely be completed sometime in the summer.
In addition to about 260 apartments, The Baxter will have 32,000 square feet of retail space on the first floor and likely house eight to 10 businesses, she said. No commercial leases have been signed, Minklei noted, but people with fitness concepts and restaurant ideas have inquired about lease agreements.
Although an Edwards representative said during the early stages of The Baxter’s development that the company would be interested in a small grocery tenant, Minklei said no one has reached out with the desire to open a convenience or bodega-type store.
“I think the space is probably too small,” she said.
The two developments will have similar amenities such as on-site parking and a pool, as well as similar price points. Listed rates for Highland Station start at $830 a month for a studio apartment and go up to $1,985 a month for a two-bedroom, two-bathroom apartment.