Four property owners in the Park Woodlawn area will sell their land to a developer who wants to build a mixed-use development if the city approves the rezoning request.
Selwyn Property Group wants about 1.31 acres zoned from residential and office use to mixed-use urban development. The rezoning would allow for a project that would include multi-family units and retail, said Grey Poole, a partner with the developer.
“It’s really a neighborhood you can live, work and play in,” he said. “You have everything you need within walking distance.”
There will be a public hearing on the project’s zoning application on June 16, according to city records. City Council is expected to make a decision in July.
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Four groups own the land that would be consolidated into the mixed-use project.
Barry and Muriel Welborne own land at 1374 Drexmore Avenue, Sandra and Wayne Britt own 4418 Park Road, Charles and Donna Lockhart own 4424 Park Road, and Hanh Hong Thi Le and Thanh Ngoe Nguyen own 4412 Park Road.
Charles Lockhart said he has owned the property on Park Road since 1995. His office building has served a number of purposes, including housing his insurance agency.
But when representatives with Selwyn Property Group approached him about selling the property for an undisclosed amount, he decided it was time.
“They want to rezone the area and make something else out of it,” Lockhart said.
City Planner John Kinley said some developers will wait to purchase properties until they secure the rezoning they’re requesting.
“It’s not uncommon, but I wouldn’t necessarily call it common either,” he said.
The development, which will be named Park at Montford, will be Selwyn Property Group’s second mixed-use development in the area.
In early 2014, the company completed nearby Park at Drexel, which also resulted from the combination of four parcels.
That development features 33 one-bedroom units, eight two-bedroom units, one three-bedroom unit and 4,500 square feet of ground-floor commercial space.
Residents began moving into the new development in late March, Poole said. About half of the units are already leased, which Poole said he was “really pleased with, given that the building’s only been open for a couple of weeks.”
“Given our success with Park at Drexel, we’re targeting other opportunities in the area,” said Poole, adding that the company loves the access to amenities in the area, including Park Road Shopping Center, Park Towne Village and Montford Drive.
Initial plans for Park at Montford include 10,000 square feet of ground-floor retail space as well as five stories of residential units, although Poole said he is not sure if the units will end up being sold or rented.
Units are likely to range from loft to three bedrooms. Poole said it would be “premature” to provide specific square footage.
He added that he hopes that nearby residents in Madison Park will use the retail amenities offered on the first floor. Poole said the company plans to widen sidewalks around the property to encourage pedestrian traffic.
Kinley said city staff are studying the project but don’t have a recommendation for staff yet.