Keystone Gets Approval for 330-Unit Community in Mebane

Mebane’s city council has approved Keystone’s plans for a 330-unit apartment community near I40/85. From the Burlington Times-News:

A second developer received approval this week to proceed with plans to construct apartment homes.

Keystone at Mebane Oaks, part of Keystone Homes of Greensboro, applied for rezoning and a special-use permit to develop the multifamily complex…

That location is property along Interstate 40/85 at the dead end of Cameron Lane, off Mebane Oaks Road.

Along with 330 apartments, Keystone says, the complex will include a residents’ club, pool, fitness room, exercise studio, game room and kids area, along with a playground, pet park and walking trails. One- and two-car garages will be located throughout the property, which will be divided by a thoroughfare that Keystone will build, in line with a proposed larger road between Mebane Oaks road and N.C. 119…

Currently, the property, valued around $1 million, generates $5,350 in taxes for Mebane. The expected property tax value after construction is $23.1 million, which would generate $113,000 a year in taxes and an additional $114,000 in annual water and sewer fees. Keystone also will have to pay $759,000 with the building permits in water and sewer connection fees.