Lomax Properties is proposing to build a $20 million, 200 unit, four story apartment community by the Shops at Friendly Center:
Patrick Woods, vice president for Lomax Properties, said an affiliate of the company is seeking to rezone the 4-acre property at the corner of Hobbs Road and Northline Drive and increase density that would allow for 200 apartment units in a four-story building. The city’s Zoning Commission will hold a public hearing for the project Sept. 10 in the City Council Chambers, he said…
Plans for the high-end apartments are a response to a “sea change” in the market and demand for rental units, Woods said.
“People want nice homes but they want the flexibility of renting if they are uncertain where they will be in the future,” he said.