Michaels to Develop Market Rate Community in Huntsville, Alabama

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Dean at Chase Creek will deliver 336 units to the rapidly growing Huntsville area near NASA’s Marshall Space Flight Center
Dean’s Render to Chase Creek
The $73 million Chase Creek development, which will be built on a 17.55-acre site, will feature 336 apartments in three-story, garden-style walk-up buildings.

CAMDEN, NJ – April 12, 2022 – (

Newswire.com

)

The Michaels Organization, a national leader in residential real estate, with its joint venture partners, Albert Reuben Capital, LLC (ARC) and ICV Rep, a Family Office in Santiago, Chile, is about to inaugurate its first rate of the multifamily community market in Alabama, following a successful financial close.

Located in the heart of a growing residential neighborhood just seven minutes from downtown Huntsville, the new Dean at Chase Creek Apartment Community will provide a modern, amenity-rich living opportunity for professionals in what is becoming one of fastest growing technology centers in the country. . Co-developer, ARC, LLC is led by Seth Heller, managing partner of ARC, a Miami-based private equity and real estate advisory firm.

“Michaels is excited to bring these high-quality homes to Huntsville, where our residents can be close to major employment centers, retail businesses and cultural amenities,” said Michael Flanagan, executive vice president of development at The Michaels Organization.

The $73 million development, which will be built on a 17.55-acre site, will feature 336 apartments in three-story, garden-style walk-up buildings. Amenities will include a resort-style clubhouse and pool with pavilion, grilling areas, electric car charging stations, dog wash and park, high-end fitness and agility rooms, conference rooms and collaborative spaces. Residents will also have the option of renting garages.

Michaels has owned and operated affordable apartment communities in Alabama for more than a decade, but the Dean of Chase Creek will be its first market-rate community and its first in the Huntsville area.

ARC is currently focused on horizontal and vertical land development throughout the southeastern United States, with a particular focus on Huntsville, Alabama.

Nicknamed “The Rocket City”, Huntsville is home to NASA’s Marshall Space Flight Center, Redstone Arsenal, state-of-the-art medical facilities, FBI HQ2, Mazda-Toyota Manufacturing USA and Cummings Research Park, the world’s second largest research park. in the USA. Major employers are located within a mile of the site, largely concentrated in the 1,700-acre Chase Industrial Park, which has a daytime population of over 4,500 people. The main employers in the park are Johnson Controls, Qualitest, Cinram and PPG Industries.

Urban Practice is the architect. Michaels Construction will act as general contractor and Michaels Management will act as property manager.

About the Michaels Organization: The Michaels Organization is a national leader in residential real estate offering comprehensive services in development, property management, construction and financing. Serving 175,000 residents in more than 440 communities nationwide, Michaels is committed to designing housing solutions that jump-start education, civic engagement and neighborhood prosperity and to creating communities that improve health. life.

About Seth Heller: Seth Heller is a real estate developer and private equity professional. Mr. Heller is the Managing Partner of Albert Reuben Capital, LLC. Throughout his distinguished 26-year career, Mr. Heller has financed, acquired and managed over $1.5 billion in real estate development.

About the ICV representative: ICV Rep is the real estate arm of Inversiones Convento Viejo (ICV), a Chilean Family Office owned by the Lavin family. The company has a long experience in financing development projects (on its own and as a lead investor alongside other Chilean FFOOs) in Chile, Spain and the United States.

Media contact: Laura Zaner, The Michaels Organization, lzaner@tmo.com, 856-988-5983.

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Michaels to Develop Market Rate Community in Huntsville, Alabama

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