Novare Group, BCDC to Develop 290-Unit Apartment Community in Madison, Alabama

MADISON, ALA. — Novare Group and Batson-Cook Development Co. (BCDC) plan to develop a new apartment community in Madison. Synovus Bank provided construction financing to the co-developers, and Marble Capital provided equity for the 290-unit, mid-rise community. The Synovus loan was not disclosed but reportedly totaled $31.5 million.

The unnamed project will include three, four-story residential buildings with two ground-floor retail spaces totaling 5,000 square feet. Each building will have conditioned corridors and elevators, and there will be 483 surface parking spaces and 25 detached garages. The property will offer studios, one- and two-bedroom units.

Community amenities will include a resort-style swimming pool, private coworking lounge with private rooms and a conference room, fitness center with a yoga and spin room, dog park, clubroom with demo kitchen and fireplace and direct access to the Singing River Trail, a 70-mile-long Northern Alabama trail system. The project will also include eight live/work units.

Located at 375 Lime Quarry Road, the community will be adjacent to Town Madison, a 563-acre mixed-use urban, walkable community.

Niles Bolton Associates is the architect, Walter Schoel Engineering Co. is the civil engineer and Doster Construction Co. is the general contractor. Construction will commence in April, with the first units set to deliver in the summer of 2022.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Request media kit

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties