The Residences at Montgomery Quarter has added 148 luxury apartment units to the mixed-use development to transform the southern gateway of Montgomery, Ohio.
The project has earned a CoStar Impact Award for multifamily development of the year in the Cincinnati/Dayton market, as judged by real estate professionals familiar with the market.
The larger Montgomery Quarter project covers 21 acres in this Cincinnati suburb. It includes a boutique hotel, retail and restaurant space, office space, condominiums and a public park. It will cost $150 million, and it is expected to create 1,300 jobs, attract visitors and enhance the quality of life for Montgomery's residents.
The Residences at Montgomery Quarter project is designed to be highly walkable. Residents will have access to the built-in amenities around them, such as Bru Burger, Livery, Kozue and Hellman Clothiers. The community also offers a clubhouse, fitness center, swimming pool and outdoor gathering space. The apartments are leasing quickly, with 70% to 80% of the units already occupied.
About the Project: The Residences at Montgomery Quarters will feature one- and two-bedroom townhouses and garden-style floor plans. Rent will range from $1,300 to $3,500 a month. Apartment units will offer modern amenities, such as pendant lighting, tile backsplashes, stainless steel appliances, quartz countertops, luxury vinyl flooring and oversized closets. The townhouses will also have attached garages.
What the Judges Said: "This was done in a market that is notorious for [not in my backyard] and steadfast [to] not give out any abatements. The lot was and had been an eyesore for years as an old car lot, most previously as LUV, Loren's Used Vehicles. The development brought high-quality tenants — both residential, retail and office — to the development making it a smash hit," said Stash Geleszinski, managing director CapStone.
They Made It Happen: Jeff Chamot, director of development at Neyer Properties; Mike Brandy, president at Brandicorp; Mike Doty, vice president of construction at Brandicorp; and Brent Sobczak, president of CASTO Communities at CASTO.