$ 50 Million Luxury Apartment Complex Planned For Indian Lake Village | New

In a narrow 7-6 vote on Tuesday, Hendersonville’s mayor’s council and aldermen voted to approve a revised Indian Lake Village final development plan, paving the way for the construction of 247 luxury apartments next to the Hobby Lobby shopping area off Indian Boulevard du Lac.

It was the first time in more than six years that city leaders voted to approve plans that would allow the construction of an apartment complex in the city.

Tenn Holdings, owner of several properties in Indian Lake Village, has asked to amend the final development plan for mixed-use development of over 400 acres by adding multi-family housing to the list of permitted uses on 8.74 acres behind the Aventura apartments.

Over the past seven years, the owners have had little success in marketing the property for its currently zoned planned commercial development use, Rob Horton, partner of Tenn Holdings, told city leaders.

“We haven’t received any offers from a retail developer,” said Horton. Tucked away on Indian Lake Boulevard, the property lacks visibility for other developments like a hotel, he added.

Additionally, units for sale at The Gatherings, a new age-restricted development in Indian Lake Village, are not selling out as quickly as this development had hoped, according to Horton.

The estimated $ 50 million project will include 247 high-end one- and two-bedroom units in two four-story buildings, and will generate $ 428,000 in property taxes for the city and county of Sumner, according to Patrick Poole, who represents the design of the project. -builder Al. Neyer. Neyer was the architect of the recent Vanderbilt Medical Center office building on Anderson Lane, according to Poole.

Poole said the project would be unique to Hendersonville and target young professionals and empty nesters in the higher income brackets who would pay between $ 1,500 and $ 2,000 per month in rent.

Several aldermen, including Ward 4 alderman Steve Brown, said the project suited the area well, noting that the city would not be responsible for roads as part of the development or garbage collection.

“If we ever approve [apartments], you’ve found the place to do it, ”Brown said. “I just feel like you have a great product. “

As a condition of approval, the developers proposed to make off-site improvements to the area, including the construction of a roundabout at the intersection of Saundersivlle Road and the commercial access road in front of the Sam’s Club for a estimated cost around $ 600,000. It will also install additional turning lanes at the intersection of Indian Lake Boulevard and Saundersville Road.

The developers will also build a trail for the Indian Lake Village Greenway that will include a pavilion, map kiosk, and watering station with a dog fountain.

Several city councilors contested several exemptions requested by the developer, including a request to exceed the number of apartments authorized in Indian Lake Village by 247 units.

The overall development of Indian Lake Village is currently limited to a total of 1,200 residential units. Of these, up to 600 can be rental units. All of these rental units have been built while 176 single-family units for sale remain to be built, according to the city’s planning department.

In addition, 446 parking spaces are required for the proposed development in accordance with the city’s zoning ordinance. The developer proposes to provide 334 of these parking spaces and to share 112 spaces with the adjacent shopping center.

The developer has also requested a building materials waiver, asking to use much less bricks than the city allows.

Ward 6 Alderman Eddie Roberson said he was concerned that granting the waivers could open the door to more demands from developers.

Those who voted for the revised FDP on Tuesday included Brown, Arlene Cunningham of Ward 3, Jonathan Hayes and Rachel Collins of Ward 5, Pat Campbell of Ward 2 and Ward 1 representative Peg Petrelli.

Roberson, Mayor Jamie Clary, Ward 3 Alderman Russ Edwards, Karen Dixon of Ward 4, Ward 6 Alderman Jim Waters and Ward 2 Alderman Lee Peterson voted against.

The Hendersonville Regional Planning Commission recommended approval of the revised plan to BOMA 7 to 3 on September 7. The project was recommended 2 to 1 by the General Committee on September 14th.

City officials last approved apartments in 2014 when the 94-unit Luxe in Indian Lake Village was approved.

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