A 360-unit multiple-family residential development was green-lighted last week by the Oxford Township Planning Commission.
Commissioners voted 4-1 to grant final site plan approval for the project known as Sandhill Townhomes and Abbey Ridge Apartments, to be located on the east side of M-24, immediately west of Oxford High School and south of Ray Rd.
The project, being developed by the Bingham Farms-based Burton-Katzman, will include 120 townhome condominiums and 240 apartments, all built on 42.88 acres of a 56.48-acre site.
Townhomes will be spread across 20 two-story buildings, each containing six units. These will be coupled with 12 two/three-story apartment buildings, each containing 20 units.
A 3,155-square-foot clubhouse and an outdoor pool will also be part of the development.
E. Market St. will be extended through the development and serve as the dividing line between Phase I and II of the project.
Right now, Phase I, which encompasses 24.94 acres, will consist of constructing 140 apartments and the clubhouse followed by 42 townhomes, all located north of E. Market St.
Phase II, which sits on 17.94 acres, will include construction of 100 apartments followed by 78 townhomes, all on the south side of E. Market St.
‘That’s kind of the progression we envision,? said Charles DiMaggio, senior vice president of project development for Burton-Katzman.
As far as the construction timetable goes, DiMaggio told commissioners, ‘We hope to get in the ground in probably September, maybe October.?
He estimated it would take a year to a year-and-a-half to get the first 140 apartments built and rented out.
‘Then we would move into condominiums,? DiMaggio told commissioners. ‘What we’re hoping for at that point, is the condominium market has improved both in terms of financing for owners as well as financing for us as developers to build them.?
‘So, you feel in two years, financing is going to be better?? asked Commissioner Tom Berger.
‘It can’t be worse than it is right now for us,? replied DiMaggio. ‘Yeah, we’re hoping it will be better.?
DiMaggio noted the order of what’s built when could change based on the market.
‘It will depend on how well those (initial 140) apartments lease up,? he explained. ‘If those apartments lease up as we think they might, then we may be back before you and ask that the other (100) apartments be (built next).?
Township Planner Brian Oppmann, who represents the Ann Arbor-based Carlisle-Wortman Associates, noted that other than ensuring certain infrastructure requirements are met, the planning commission has ‘no control? over Burton-Katzman’s ‘phasing schedule.?
‘This isn’t a (planned unit development)-style agreement where you can dictate phasing schedules,? he explained.