Camden-based The Michaels Organization, along with its joint venture partners, Albert Reuben Capital, LLC (ARC) and ICV Rep, a Family Office from Santiago, Chile, is set to break ground on its first market-rate multifamily community in Alabama.
Located in the heart of a growing residential area just seven minutes from downtown Huntsville, the new Dean at Chase Creek apartment community will offer a modern, amenity-rich living opportunity for professionals in what’s becoming one of the most rapidly growing tech hubs in the country.
The co-developer, ARC LLC is led by Seth Heller, managing partner of ARC, a real estate private equity and advisory firm based in Miami.
“Michaels is excited to bring this high-quality housing to Huntsville, where our residents can be close to major employment centers, retail, and cultural amenities,” said Michael Flanagan, executive vice president of Development at The Michaels Organization.
The $73 million development, to be built on a 17.55-acre site, will feature 336 apartments in three-story, garden-style walk-up buildings. Amenities will include a clubhouse and resort-style pool with pavilion, grilling areas, electric car charging stations, dog wash and park, upscale fitness and agility rooms, conference rooms and collaboration spaces. Residents will also have the option to rent garages.