By Dees Stribling, Contributing Editor
Huntsville, Ala.—Sterling Construction has broken ground on the Providence Place Apartment Homes, an apartment property in Huntsville, Ala. The $26.4 million project will be completed in May 2013, according to the developer, on about 14 acres in the Village of Providence, a mixed-use town-within-a-town development.
Providence Place will include 226 market-rate units in 10 buildings within walking distance of the Village of Providence’s town center. The complex will feature one-, two- and three-bedroom residences ranging from 732 square feet to 1,412 square feet, with rents from $800 to $1,275.
The property’s amenities will includes a swimming pool, fitness center with adjacent children’s area, and a cyber cafe. It will also sport a car-care center, pet park, playground and outdoor theater.
“Based on our market research of the Huntsville area, there are strong indicators driving rental demand,” Holly Nunemaker, director of marketing for Sterling Management Ltd., tells MHN. “There’s a large working-age demographic supported by colleges and major employers in the area, for one thing.”
But not only that, the working-age demographic is growing as the area’s high-tech industry grows, supported by NASA’s Marshall Space Flight Center and the U.S. Army Aviation and Missile Command. Between 2000 and 2010, according to the Census Bureau, the Huntsville area’s population grew by nearly 14 percent to about 180,000. “The demand and inventory of new, Class A housing is growing as the population grows in the area,” says Nunemaker.