GREENFIELD — Construction is slated to start next week on the first of four three-story apartment buildings on the western end of 84South, a shopping, restaurant and residential complex under construction along Layton Avenue between 84th and 92nd streets.
Developer Cobalt Partners announced Friday, May 5, that it has completed the sale of approximately 7.5 acres along the west end of 84South to an affiliate of Fiduciary Real Estate Development.
Forte at 84South will be a 268-unit apartment development. The outdoor amenities include a swimming pool with an extensive entertainment deck with "summer kitchen" grills and seating. There also will be other gathering areas.
Interior amenities in building A2 will include a Wi-Fi cafe, club room with gourmet kitchen and multimedia gathering space, and a fitness studio including a tanning room. Dog washing stations will be incorporated in the podium parking area.
$1,000 lowest rent
Monthly rents will range from $1,000 for a 575-square-foot studio apartment to $1,380 for a 1,800-square-foot two-bedroom plus den unit. The average rent will be about $1,380.
Craig Raddatz, partner in Fiduciary Real Estate Development and vice president of acquisitions, said having shopping and restaurants so close was a big factor in Fiduciary being interested in the apartment project at 84South.
"A lot of millennials like health and fitness, shopping, restaurants and bars in the area," he said. "They like easy walkable neighborhoods like 84South is."
Greenfield Mayor Michael Neitzke said, "It's exciting to see the project progressing as quickly as it is."
Like Fiduciary, Neitzke said he is optimistic the apartments will fill up quickly. Anecdotally, he said, "I'm always being asked when they will be available."
The first building should be done July 1, 2018, Raddatz said.
Construction of all four apartment buildings will be simultaneous, although the start times will be staggered, Raddatz said.
While work on the first is slated to start May 15, the second should start July 1, the third Aug. 15 and the last Oct. 1, he said. It will take about a year for each of the approximately 70-unit buildings to be finished, he said. So, the last one should be done about March 1, 2019, he said.