Chance Partners Breaks Ground On Tuscaloosa Apartment Community

Community Is Company's Third Downtown Project In Past Year

TUSCALOOSA, Ala., Feb. 21, 2013 /PRNewswire-iReach/ -- Chance Partners, LLC today announced that is has started construction on Green Bear Lofts, its third downtown luxury apartment community in the last year.  The community, located at the northeast intersection of Greensboro Avenue and Bryant Drive, will comprise 53 residences and 115 beds along with 3,985 square feet of street-level retail space.

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"Downtown is moving quickly toward what so many in Tuscaloosa have envisioned: a vibrant environment where you can truly live, work and play," said Judd Bobilin, President & CEO of Chance Partners.  "In less than six-months, Green Bear Lofts will bring more than 115 new residents and additional retail amenities to further enhance the vibrancy of downtown Tuscaloosa – an area that the Mayor, City Council, Staff and residents of the City of Tuscaloosa have done such a great job of transforming into one of the most admired in the country," Bobilin added.

This is the third development for Chance Partners, which also developed the Townhomes at Metal Works, a 5-unit for-sale community located on 21st Avenue, and Boulevard Lofts, a 20-unit community located on University Boulevard across from City Hall. Boulevard Lofts is currently over 97% leased and 100% pre-leased for August 2013 move-ins.

"We are excited to have started another project in Downtown Tuscaloosa," commented Christopher Kritzman, Chance Partner's lead developer for the Tuscaloosa market. "The city has made great strides to establish a truly exceptional urban, diverse, downtown environment, and we are ecstatic to be a part of its continued development."

Green Bear Lofts will offer one-, two- and three-bedroom loft and townhome style units.  Most units will also offer dens and will feature downtown Tuscaloosa's best features and amenities, including: on-site parking, a residents-only clubroom with state-of-the-art technology, a lush pocket park with water features, and on-site management. 

Units at Green Bear will be the most high-end in the marketplace and will feature private bathrooms for every bedroom; gourmet kitchens featuring imported granite countertops, designer wood cabinetry and stainless steel appliances; full-size washers and dryers; expansive living areas; hardwood-style flooring.  Most units will offer walk-in closets and ample storage space, while select units will offer modern kitchen cabinetry and fixtures, and designer lighting.  All units will come furnished with living and bedroom furniture and will include a 42" flat-screen television in the living area.  Rents will start in the low $700's per bed, per month and include cable television, high-speed Internet, maintenance and trash.

For leasing information, visit www.DistrictLoftsAL.com or call 205-409-3150.

The Preston Partnership, a multi-faceted architectural firm, is the architect. APEX Construction Services, LLC will manage General Contracting and Walker & Associates, Inc. is the project's Civil Engineer.  Asset Campus Housing, Inc. will act as Property Manager of the community.

About Chance Partners, LLC

Chance Partners is a fully integrated real estate firm specializing in the development of high-quality multifamily and student housing communities catering to those that seek the ultimate amenities; location, quality and value. Backed by a deep understanding of the markets, a commitment to excellence and an unmatched track record of success, Chance Partners is redefining the in-town living experience. Headquartered in Atlanta, GA, Chance Partners has won numerous national awards for its developments and prides itself on developing communities that intertwine into their surroundings. Learn more at www.Chance-Partners.com.

Media Contact: Christopher Kritzman Chance Partners, 404-861-8063, ckritzman@chance-partners.com

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SOURCE Chance Partners, LLC



2014

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Banking & Financial Services, Real Estate, Commercial Real Estate, Construction & Building, Education, Higher Education, Real Estate Transactions



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