Novare Group and Batson-Cook Development Co. (BCDC) will develop a luxury mixed-use apartment community in Madison, Ala., a fast-growing city in the metropolitan Huntsville, Ala., area. The joint venture closed on the 13.45-acre site and has obtained the construction financing for the 290-unit, mid-rise community from Synovus Bank and investment from Marble Capital of Houston.
Located at 375 Lime Quarry Road, the community will be adjacent to Town Madison, an under-construction 563-acre mixed-use urban, walkable community, and along the Singing River Trail, a 70-mile-long Northern Alabama trail system. Construction will commence in April 2021, with the first units delivering in summer 2022.
The project will include three residential buildings of four stories each, 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.
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