A new apartment complex is set to open in Aubrey next year, bringing 150 units and amenities unlike current options in the city limits.
Palladium USA is behind the $19 million project, called Kiron at Aubrey, that will feature amenities including exercise facilities, a dog park and a children’s play area, said Tom Huth, president and CEO of Palladium USA.
“It’s very well-designed and a very expensive property to build,” he said.
Currently, there are only a handful of apartment complexes in Aubrey. The new project will help the city attract different age groups to live in the area, said Ron Whitehead, the interim city administrator.
“We’re hoping that people will begin to embrace the idea of developing a balanced community — one that provides housing for people at every stage of their life, and that’s what we think the apartments will do,” he said. “It addresses a segment we don’t have a lot of supply for right now.”
An official groundbreaking on the project was held last week, and the first phase of the project is expected to be move-in ready about a year from now, Huth said.
The complex will be on 8 acres east of U.S. Highway 377 on Highmeadow Drive, near the Family Dollar and Diamond grocery store.
The company was interested in Aubrey and monitored traffic along the U.S. Highway 380 Corridor and traffic on U.S. 377 for a few years before deciding on a spot, Huth said. Once company officials learned that a Wal-Mart would be built about four miles from the site, they decided on the location.
“We thought it was an ideal site for us,” he said.
The complex was designed by Humphreys and Partners, and the exterior will be made of stone, brick and stucco.
The company hopes to have the leasing center open at the apartments in 10 to 11 months, shortly before the first apartments are available, and rent will be determined about three months before opening. The average apartment in the complex will be 950 square feet.
Additional amenities include covered gazebos, an outdoor kitchen and a high-tech computer lab to help set the complex apart, Huth said.
Whitehead said he thinks the community will embrace the addition and that he thinks it’s an ideal property for nearby teachers and others just starting their careers in the area.
“It’s going to be really nice and I think once it gets in, people will appreciate the quality of what’s being built there,” Whitehead said. “We’ve got good developers and quality people involved, so it should be a really good project.”
JENNA DUNCAN can be reached at 940-566-6889 and via Twitter at @JennaFDuncan.