Amenities include a pool, clubhouse, theater, car wash station, dedicated parking and fitness center, according to project documents.
The F Street Group LLC project at 4005 E. Lake Vista Parkway is seated on 66 acres next to Oak Creek’s Lake Vista Park and will include apartments, townhomes and single-family homes.
This first-phase submission includes two multifamily buildings. The first, called the north building, is three stories with 84 apartment units. The south building is four stories and includes 115 units.
City Planner Kari Papelbon said 1-, 2and 3-bedroom units will be available.
Amenities include an outdoor fenced pool, clubhouse, theater, car wash station, dedicated parking and a fitness center, according to project documents. A courtyard between the buildings can be used for community events.
Surface parking and a sublevel “not traditional” underground parking lot, similar to an alcove, will be offered, Papelbon said. For the north building, 74 parking stalls will be available in the sublevel and 65 surface-level spaces. The south building will feature 75 sublevel parking spaces and 76 surface stalls.
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Plans for four townhomes also submitted
announced.
Also reviewed were four townhomestyle buildings on the south and east sides of the apartments. These townhomes — two 8-unit and two 6-unit townhomes — are purchased by owners and each have their own entrance and private two-car garage. The single units have an upper and lower so they have a balcony and patio. The mailbox will be combined and located near a 10-stall visitor parking lot.
“Most units are stacked on two floors with corner units being separate on the first and second floors,” Monachos wrote in documents filed with the city.
“Individual porches and planters, along with exterior materials, coordinate with other residential development types throughout the site.”
The developer is expecting to break ground on the multifamily buildings by June 2022 with the apartments delivered by July through September 2023. The townhomes should be completed between January and May 2023.
Staffing is anticipated to be four or five full-time and four or five part-time employees for managing, maintaining and leasing properties.
F Street Group purchased a nearly 35-acre site from Oak Creek for the first phase. That first phase will include infrastructure work, 318 apartments, 86 single-family homes and 28 townhomes.
Oak Creek will provide up to $30.1 million to help finance the development through the new property tax revenue it generates. In return, Lakeshore Commons must have a minimum assessed value of $27.4 million by January 2024 and $81.2 million by January 2027.