132 Unit Community Planned for South Greensboro

From the Triad Business Journal:

Melos Investments U.S. Inc. is planning a development that calls for up to 132 apartments in southern Greensboro near I-85.

The development is planned for a 7.5-acre parcel located east of Belmont Street and north of Tolar Drive. It would be adjacent to a 216-unit apartment complex called Abernathy Park, which is managed by High Point-based Blue Ridge Cos.

When fully built out by summer 2013, Melos’ project will become the latest apartment development in the Triad, where developers continue to be bullish on the local rental market as many would-be buyers rent units amid tight lending requirements and higher unemployment.