These were the preliminary renderings given to city council when Lake Highlands Town Center developer Prescott Realty requested an increase in Tax Increment Financing reimbursements. As mentioned in a post last week, the first 200 units will be built southeast of Sedgwick and Wildcat Way, and construction could begin as early as November.
The apartments will be the first “vertical construction” on the Town Center property. Prescott applied to HUD for a construction loan to build them this past March, but emphasized in a recent press release that “this HUD program is not Section 8 housing, assisted-income or low income housing.” Instead, this particular program “places emphasis on projects that are urban, infill, sustainable and transit-oriented, all elements provided by LHTC,” the press release states.
One of Prescott’s original press releases on the Town Center project in 2007 mentions that the entire project will include “over 1,600 upscale residential units including townhomes, patio homes, flats and lofts.” The planned development ordinance that governs the project’s zoning allows for up to 2,205 units, with stipulations on how many can be built in different sections of the project. Roughly 1,400 apartment units were razed in order to make way for the Town Center.
