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Plans for a $15 million, 3.5-story apartment building called River Gate near Ohio University's South Green have been approved by the Athens Planning Commission.
Last Thursday, the Planning Commission approved by a 4-1 vote site plans for River Gate, a proposed 232-bed apartment building slated to replace the building that now contains the New Life Assembly of God Church at 10 S. Green Drive.
The planners met after a single requested variance from Athens' property code was approved by the city's Board of Zoning Appeals this past September.
Development of the property will be allowed to proceed even as attorneys for the Summit at Coates Run apartments on Richland Avenue have filed an administrative appeal of the variance the Board of Zoning Appeals granted the River Gate property owners.
On Oct. 9, in a filing in Athens County Common Pleas Court naming the city of Athens, its code director, and the Board of Zoning Appeals, Coates Run LLC attorney B. Lafe Metz requested the court reverse that variance granted for the construction of the River Gate apartment building.
Homestead U originally requested a variance allowing a 4.5-story building, with 82 percent lot coverage, which refers to the footprint a building makes on its property site. Maximum lot coverage allowed by city code is 60 percent.
That variance was rejected. After redrawing plans, Homestead U brought the proposed building down to 3.5 stories, matching code requirements, and requested a variance for 77.5 percent lot coverage. That variance was granted by the Board of Zoning Appeals in September.
Both variance hearings were attended by Coates Run property manager Pam Wells, who objected to the variance requests each time, pointing to the Summit complex being required to satisfy code regulations that Homestead was seeking to skirt.
Dave Anderson, president of Columbus-based student housing firm Homestead U LLC, which owns the River Park apartments and proposed the River Gate project, and Dave Fisher, lawyer for Homestead U, both declined to comment Thursday on a timeline for when construction will start on the River Gate project.
John Paszke, city code enforcement director, said Friday that Homestead U has received a demolition permit for the building that formerly housed the New Life Assembly of God; the company bought the parcel the church sits on for $1.7 million earlier this year.
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River Gate apartments get go-head from city
Despite the ongoing apartment building spree in Boulder County, the booming multifamily market the rising rents, the falling vacancy rates and broader demographic and economic trends has only whetted investors' appetites.
Through early December, real estate investment trusts, public retirement trusts and individual buyers have dropped a half a billion dollars on more than two dozen apartment communities in the county, an analysis of property records show.
Even when extracting the pricey $93.5 million Two Nine North apartments sale and the Balfour Senior Living portfolio in Louisville that sold for $104 million, the total value of this year's transactions exceeds that of the comparably busy 2012 by nearly 70 percent.
Top 10 sales
10 largest apartment property sales in Boulder County through Dec. 9, 2014
1. Two Nine North, 1925 30th St., Boulder, $93.5 million
2. Wyndham Apartments, 2540 Sunset Drive, Longmont, $51 million
3. The Boulders, 2850 Kalmia Ave., Boulder, $44.2 million
4. Balfour, 1331 Hecla Drive, Louisville, $40.25 million
5. Strathmore Park Apartments, 440 Strathmore Lane, Lafayette, $39.9 million
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Boulder County apartments: Investors buying high, banking on hot streak continuing
Patios limpios salud asegurada
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An indisputable expert after spending 53 years in the furniture and flooring business, the most important piece of business advice Dennis Stanfordcan offer has nothing to do with interior furnishings.
"I put people ahead of income," Stanford said as he was preparing for his last couple of weeks before retirement. "Care more about the customer than the money, and you will be very successful."
Stanford whose last day of work at Furniture Mart on Main Streetwill be Dec. 31 showed off that philosophy last week as he greeted someone who walked into the store. It was impossible to know if this was a customer or a friend until the conversation switched from friendly banter to talk of flooring.
"All of his customers become friends with him," said Anita Wald, the store manager who has worked with Stanford for 20 years. "He's just got a good way with people, and makes sure everyone is taken care of."
Stanford, 72, started his career with Fischer Furniture in 1961 as a 19-year-old working on delivery and installation.
"I set out to go to college, but it turned out I didn't have enough money so I got a job," Stanford said.
He continued to work in installation until 1964 when he returned from basic training for the Army National Guard.
"I had a boss at that time that said, 'Dennis, you're either going to the sales floor or you're not going to work here anymore.' So I said OK."
He credits his success to several great mentors, excellent on-the-job training, and his own drive to become better at his job by taking sales courses and reading books on sales like those by Dale Carnegie.
The company changed ownership and buildings over the years, including once due to the historic flood of 1972. Stanford rolled with change, focusing on taking great care of the customers and people he worked with, and ended up at his current position as director of business development at Freed's Fine Furnishings Furniture Mart in 2001.
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Man reflects on half century in furniture business
