None of the 5,000 sf of retail has been rented and 25,000 sfoffice remains to be leased. The seven levels of apartments sitabove two floors of retail and office.
Summitt Properties itself is leasing 27,000 sf of office spaceand an accounting firm is taking 11,500 sf. Summitt is using the$55 million it recently received in the sale of three multifamilyproperties to fund ongoing developments here. Trinity Properties ofCharlotte is leasing the retail and office space.
The communities sold by Summit Properties comprise Summit RiverCrossing in Indianapolis, Summit Blue Ash in Cincinnati, and SummitPark in Cincinnati. The three communities totaled 873 homes. The$55 million sale price equates to an average $63,000 per home.
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