Lincoln, Neb.—Construction is underway on a new, 220-unit luxury apartment development in Lincoln, Neb. Developed by a partnership between The Sterling Group of Mishawaka, Ind., and Bozeman, Mont.-based Braxton Development, Aventine at Wilderness Hills Apartment Homes will feature a dozen buildings on an 11.75-acre parcel in the southwestern submarket of Lancaster County.
The market-rate community located off Yankee Hill Rd. and 30th St. will offer eight one-, two- and three-bedroom floor plans. Apartments will extend in size from 561 to 1,319 square feet. Rents will range from $650 to $1,375 a month. The $26.8 million property is expected to open in March of next year.
The Sterling Group evaluated every city with a population of more than 100,000 across the country, and especially liked the strong real estate fundamentals in Lincoln.
“Housing production has not been able to keep pace with the tremendous population growth the city has experienced over the last decade, resulting in a large pent-up demand for additional housing,” The Sterling Group’s development coordinator Larry Swank II tells MHN
Apartments will incorporate features and finishes typically found in upscale, single-family homes. Fully equipped kitchens will feature granite countertops, a frost-free refrigerator with icemaker, microwave and dishwasher. In select homes, kitchens will include a breakfast bar or gourmet island. Wood grain flooring, ceramic tile flooring, glass-enclosed showers, vaulted-tray ceilings, spacious walk-in closets, full-size washers and dryers, and private patios or balconies are among additional features and finishes of each apartment unit.
Aventine at Wilderness Hills Apartment Homes will be a pet-friendly community offering a resident clubhouse, cyber café with Wi-Fi, media and gaming room, fitness center with top-of-the-line equipment and adjacent tot room.
Residents will also benefit from a resort-style swimming pool with arbor, two grilling stations, outdoor fireplace, car care center and recycling center. Exterior storage units and heated, attached garages will also attract potential residents.
“The development process has been a very smooth one thus far,” Swank says. “And due to the commitment the city has for new business and development, we are confident that should we meet any hurdles, the mayor and his team will work with us to identify a timely and mutually agreeable resolution.”
Decatur, Ga.-based SGN+A Architects and Lincoln-based Engineering Design Consultants were responsible for the design of Aventine at Wilderness Hills.
“The business fundamentals and strong leadership in Lincoln are some of the best we have ever seen,” says Swank. “This is a city where we knew right away we wanted to do business. Lincoln’s most impressive statistic is the fact it has consistently maintained one of the lowest unemployment rates in the country.”
In addition, Lincoln is ranked number one on the list of “Best Cities to Find a Job,” according to AOLJobs.com. And Forbes ranked Lincoln the fourth best in the nation for businesses and careers, Swank says.
“We are extremely excited to be entering this market with Braxton Development,” he adds. “They have a strong presence in the West region. And their experience in the hospitality and multifamily industries will help to assure we are offering the best product in the Lincoln market.”