The development consists of 28 two-story buildings with two andthree bedroom units, which have an average of 1,472 square feet.There are 224 units altogether.
At the Cottages at Stoney Creek, which was finished in 2006, 64of the units were sold to individual buyers, for an average of$150,000, says Erik Bjornson, a Walchle Lear broker who worked onthe deal. The largest units went for $200,000, he says.
The project, located on approximately 80 acres, was developed bythe Jacksonville, FL-based Vestcor Companies, a real estate firmspecializing in multifamily development, apartment leasing andcommercial construction. In the multifamily sector, Vestcor hasdeveloped everything from affordable, tax-credit apartments toluxury high-rise condominiums.
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