A 272-unit luxury apartment development is under construction near the U.S. 190/Interstate 12 intersection south of Covington. The development, which is scheduled to open in late 2019, is shown in red on this footprint. 9.(Dobbins Group)
An Alabama land company has purchased a 20-acre tract south of Covington and is poised to begin construction on a 272-unit apartment complex that should be ready for occupants by late 2019.
Dobbins Group LLC, a Birmingham-based real estate development, finance, property acquisition and construction management company, will build what it describes as “upscale apartment homes” on property near the northwest quadrant of the U.S. 190 and Interstate 12intersection. The project represents an investment of $43 million, company officials said.
The property is located along I-12 near the Homewood Suites by Hilton and the Honda of Covington dealership. It is adjacent to the fledgling Versailles Business Center, a business park where satellite communications provider Globalstar, Inc., is building its new headquarters building. Globalstar relocated from California’s Silicon Valley in 2010 to St. Tammany Parish.
Bill Dobbins, managing principal and founder of Dobbins Group, said he believes there is demand in western St. Tammany for luxury apartments, especially as the business park develops. “There’s a lot going in that general area and jobs are being created as the office buildings go up.”
The apartment development will have one, two and three-bedroom units, a 5,000-square-foot clubhouse, a fitness center and a gated entry.
Dobbins said the development will incorporate the “Big House” design, which features direct access garages, enclosed private stairs for upper units, walk out patios and balconies. Humphreys & Partners Architects, which has a trademark for the “Big House” design, is the architect on the Dobbins project, which is as yet unnamed.
“The overall design makes it look more like a big house than an apartment,” Dobbins said. He said the density will also be lower than most traditional apartment complexes.
Capstone Building Corporation of Birmingham, Ala., has been named the general contractor. Synovus Bank is providing construction financing.
The 20.3-acre property in unincorporated St. Tammany Parish is zoned for multi-family housing units.
“We look forward to bringing a new design to luxury apartment living in Covington,” David Ball, a principal for Dobbins Group, said in a news release from the company. “This community will provide our residents with upscale apartment homes in one of the metro area’s premier destinations for living, working, and shopping.”
Dobbins Group, LLC was formed in 2010 to pursue multifamily real estate investments throughout the southeast. It has more than $100 million in new developments in progress, according to the news release.
Original article found at: http://www.nola.com/northshore/index.ssf/2018/05/272_big_house_apartments_comin.html