SWH Residential Partners will soon begin construction of the residential component of its The Flats at Werthan Mills project now fully underway in Germantown.
The Atlanta-based company already has secured a master permit and is working on the site’s parking garage.
The Flats at Werthan Mills (read more here) will feature 282 apartments and carry a price tag of approximately $40 million. The development will serve as an anchor, of sorts, in the part of Germantown that transitions to Salemtown.
“Site work is moving well,” said John Tirrill, SWH managing partner. “We’ll have building permits for the apartments in the next week or so.”
Tirrill said the development team is looking for a tenant for the site’s warehouse that anchors the northwest corner of the T-intersection of Taylor Street and Fifth Avenue North. The building (seen below in an image courtesy of Google Maps) fronts Fifth across from Morgan Park Place.
“We’re working on our budget,” Tirrill said of the vintage masonry building. “We’ve got interest from some prospective tenants that could make a great fit for the neighborhood.”
Tirrill declined to offer details regarding those prospective tenants.
Atlanta-based SWH Residential Partners has finalized a ground breaking date for and released renderings of the apartment building it plans to develop on Rolling Mill Hill.
Originally, the residential building, which remains unnamed and a price tag for which will not be disclosed, was to have risen five stories, with on-site work to have started in March. Now groundbreaking is slated for June, with the building (see images below) to stand seven stories at its tallest point (about 80 feet), according to John Tirrill, SWH managing partner.
“We’re looking at a couple of names but will want to make an announcement by the time we start in June,” he said.
Orlando-based Baker Barrios Architects, which is handling design work, has given the apartment building a contemporary aesthetic. Tirrill said the development team originally considered a neo-art deco flavor but opted instead for an industrial look.
“As the design process evolved, it’s kind of where we ended up,” he said.
Tirrill said the building’s primary exterior materials will be brick, Hardie panel, steel and stucco. It will feature about 100 units. Solomon Builders will serve as general contractor, while Littlejohn Engineering Associates is doing landscape architecture and engineering. Both are based in Nashville.
Rolling Mill Hill already is home to The Art Deco, The Metro, Nance Place, Ryman Lofts and The Victorian apartment buildings.
Tirrill said the building will be positioned on an empty lot next to the historic chimney that sits adjacent to The Metro (click here for a photo of the site). SWH owned The Metro, The Art Deco and The Victorian before selling to Des Moines, Iowa-based Principal Global Real Estate Investors last year for $11.4 million. MDHA developed Ryman Lofts and developed Nance Place.
“We’ll spend a lot of time and effort stabilizing the [chimney], which we feel is an architectural asset,” Tirrill said.
The previously mentioned Principal Global Real Estate Investors is the owner of the project, while SWH will serve as the fee development manager.
Atlanta-based SWH Residential Partners hopes to break ground in February 2013 on its approximately $40 million Germantown apartment building following design approval earlier this week from the Metro Development and Housing Agency Design Review Committee.
The 282-unit building, tentatively to be called Werthan Flats, will front Fifth Avenue North across from Morgan Park. (Read more here.) SWH still must get approval on Nov. 14 from the Metro Historical Zoning Commission regarding design of the new building. MHZC already approved SWH’s handling some demolition on the site.
“Our intention is to do on-site demolition in the second week of January,” said John Tirrill, SWH managing partner. “We hope to being site work in February.”
Tirrill said the project will require about 18 months and will include the construction of Werthan Flats, which is a working name, and the rehabbing of a small building located at the northeast corner of the Fifth Avenue North and Taylor Street T-intersection.
In addition, SWH hopes to save long term a warehouse on the Werthan site and that Werthan Packaging Inc. continues to use.
“Our intent is to do adaptive reuse of the building with office and commercial space,” Tirrill said.
On a related note, Tirrill said SWH plans to have in December a rendering of its proposed Rolling Mill Hill apartment building. Florida-based Baker Barrios Architects is tentatively giving the five-story unnamed building (read more here) a neo-art deco design. Des Moines, Iowa-based Principal Global Real Estate Investors is the owner of the project, while SWH will serve as the fee development manager. Groundbreaking is tentatively slated for March 2013.