Bristol, TENN. – With approval from the Bristol Planning Commission on February 17th, Mitch Cox Companies began the process of transforming the intersection of Bluff City Highway and Lavinder Lane to be the future site of a new multifamily community for young professionals, graduate students, and retirees. The property that was the former location of the now-razed Southside Shopping Center may soon be known as the Villas at Lavinder Lane.
The multifamily community will be developed by Mitch Cox Companies and Universal Development & Construction.
The plan consists of 125 one, two, and three bedroom apartments with rents approximately $650 for a one bedroom, $800 for a two bedroom, and $1000 for a three bedroom. Due to the typical low concentration of children of the tenant demographic for which the units are designed, only one building will have a three bedroom apartment in this community. offshore centre . All tenants will be screened for full criminal and financial history.
Bristol,Tennessee Mayor Michelle Dolan said in a press release on Tuesday, “At this time we are definitely hurting for housing in Bristol, I spoke with a realtor this week and he said that between Bristol and Johnson City they just don’t have enough inventory, so we really need the housing in the area.”
According to the market research performed by Mitch Cox Companies, it was found that no new apartments have been built in the south end of Bristol in over ten years.
Mitch Cox, founder and CEO of Mitch Cox Companies, said, “We are excited about the opportunity to come to the Bristol market, find a vacant piece of property near several large employers, and transform it into an upscale multifamily community.”
The eleven buildings of the 6.75 acre apartment community will be similar in appearance to the Villas at Town Acres in Johnson City, TN: forty-percent brick and sixty-percent hardi-plank and architectural shingles as roofing. The finished community will have a pool, clubhouse, and 180 parking spaces plus 29 garages.
City Traffic Engineer David Metzger performed a trip generation analysis and estimates that the proposed apartment community would not adversely affect traffic volumes. The apartment community will create three times less traffic than the former shopping center had generated.
On Monday, the city’s Planning Commission unanimously approved a special-use permit for the project. A special-use permit allows the planning commission the opportunity to be involved in very specific site-design criteria to ensure the conceptual plan becomes the engineered plan.
Shari Brown, Community Development Director for the city of Bristol, said, “One of the policies the city has is to improve the diversity of the city’s housing stock and this project works towards meeting that policy very well.”
Planning Commission Chairman, Kelly Graham, said “We are excited to see a $10 million investment in Bristol’s future. Bristol is very lucky to have a blighted and underused piece of property developed into high-end housing that will greatly benefit the growth of Bristol for many years to come.”
Founded in Johnson City in 1979, Mitch Cox Companies is a full-service real estate solutions company offering development, architectural, construction, brokerage and commercial property management services. The company also manages hotel properties across the Southeast and Midwest U.S. and manages residential community associations in the Tri-Cities region of Tennessee. To see our work, listings and news, visit our website, Facebook page, or call us at 423.282.6582.