Altera Apartments provides Tallahassee with affordable housing option
TALLAHASSEE, Fla. (WCTV) - What was once the Days Inn on Apalachee Parkway and Capital Circle is set to become the Altera Studio Apartments and will provide, what the developer hopes, is an affordable housing option to those on the market.
“The property was dynamic in terms of its exposure, and location to the target customer or resident,” said Index Companies President Greg Lyon.
Lyon said they are in the process of obtaining approvals for the completion of the project through the city building department. Once that’s approved, and they receive their certificate of occupancy, they’ll begin ushering in tenants.
“Our units start at $800 a month, which is approximately 20 percent cheaper than competing apartments in the marketplace,” Lyon said.
Lyon said in addition to the studio apartments, the property also offers a swimming pool and lounge area. They’re also in the process of constructing a pavilion for a picnic area and a dog park.
The units are fully acquainted with a full kitchen, stove, oven, full-size refrigerator, full-size bathroom, sleeping area, living area and dining area, Lyon said.
Lyon said the 180-unit building has approximately 20 tenants set to move in “in the first wave” followed by 30 tenants for a second and third wave of move-ins.
“The property is dynamic in terms of its exposure and location to the target customer and resident,” Lyon said describing their “target resident” as a workforce tenant.
Lyon said they are exploring other properties in Tallahassee as well as Jacksonville, while at the same time addressing long-time need for affordable housing in the capital city.
These apartments fall right in line with the city’s goal of bringing on 1500 new affordable housing units in the next three to five years.
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