July 12, 2018
Marty Finley, Louisville Business First
More than 30 acres of valuable East End land has sold to an Indianapolis developer that proposed an upscale apartment complex on the site last year.
Apartment developer Cityscape Residential purchased 38 acres at 1411 Tucker Station Road near Xscape Theatres and Main Event Entertainment complex in Blankenbaker Station Business Park for $3.6 million, according to Jefferson County property records. The seller was the estate of Anna M. Voit and Charles E. Voit, Sr. Testamentary Trust.
Suzanne Cheek, a broker with Louisville-based Horizon Commercial Realty, was the property’s listing agent and has worked with Cityscape on previous land deals for its other Louisville projects, according to a news release. The release states that Cityscape will construct a 370-unit apartment complex on the site. Regions Bank financed a $39.6 million construction loan for the development and land purchase.
Brian Evans, a development associate with Cityscape, said the apartment complex has been named The Haven on Tuckers and will encompass almost 400,000 square feet of space across about 18 apartment building, plus a clubhouse and maintenance space. The units will be a mix of one, two, and three bedrooms ranging from 600 square feet to 1,450 square feet. Some of the featured amenities are stainless steel appliances, granite countertops and designer lighting, while on-site amenities will include a pet park, fitness center, media and gaming room, and two saltwater pools. Rental rates have not been finalized, but are expected to fall between $850 to $1,600 per month, Evans said.
In January 2017, Archview Properties, LLC, an affiliate of Cityscape Residential, filed plans with Louisville Metro and Design Services to re-zone the property from single-family to multi-family residential. Cityscape Residential has been busy in the Louisville market in recent years, previously constructing the 300-unit Axis on Lexington complex across from Distillery Commons on Lexington Road and the 312-unti Apex on Preston complex in South Louisville. The firm has also moved ahead on construction of the Flats at Springhurst, a 249-unit complex that will be constructed on roughly four acres on Simcoe Lane, across Brownsboro Road from the Paddock Shops.