Loveland, Ohio – PLK Communities wants to develop a 161unit, “multiple family residential” development on two vacant parcels totaling 5.781acres on Loveland Madeira Road next to New Hope Baptist Church. A previous proposal to build 101 “Senior” apartments on the land has fallen through.
LK Communities located in Kenwood, is a “real estate management company with a focus on multi-family and industrial properties.” according to their website.
The project includes a 41,343 square feet, four-story building, 241 parking stalls and access from the signalized intersection at Highridge and Loveland Madeira Road. Of the 161 units; the proposal includes 96 one bedroom and 65 two bedroom units. The project does not include age restrictions. The estimated value of the development at completion is $17,000,000, according to a memo written by city manager, Dave Kennedy.
PLK approached the Loveland Planning and Zoning Commission on January 19 to ask for a re-zoning of the site to a Special Planning District.
The City Manager’s office said the proposal would bring $9,238 in general fund revenue and $26,292 to the Fire and EMS fund annually to the City, and a one-time payment of $161,000 in road and recreation impact fees. There was no estimate of the revenue impact to the Loveland School District.
These two LOVELAND MAGAZINE TV videos are of Mark Morrison, of PLK Communities describing the apartment community he wants to build, and Planning and Zoning Commission members asking questions and commenting on the proposal.
The discussion centered on the proposed income to the City if the site is developed for apartments, versus if it remains zoned for commercial uses, and whether an apartment complex is an appropriate fit for the existing uses along this stretch of Loveland Madeira Road; New Hope Baptist Church, Deer Ridge Apartments, Pet Nation Lodge, and the condominiums at Whispering Knolls.
By comparison, there are 94 apartments at Loveland Station and 40 apartments at The Trails at East Loveland, both recently opened in Historic Downtown. PLK proposes 161 apartments near the Loveland Kroger and New Hope Baptist Church.
Pam Gross made a motion to move forward with the Initiation for the Establishment of the Special Planning District. All members voted to send the proposal to City Council for their consideration of the concept plan. If council approves, the plan will return to the Planning and Zoning Commission for consideration of a more detailed plan.
PLK Communities provided two samples of the type of properties they build…