As published in Toledo Business Journal - May 1, 2019
Rendering of the SOMO Flats development in Sylvania
J.C. Hart Company, Inc., headquartered in Carmel, Indiana, along with its business partner Republic Development, LLC, broke ground on its $30 million SOMO Flats project in Sylvania. The 5.5-acre site will feature 206 luxury apartments and a 13,000 square foot commercial space.
“J.C. Hart was introduced to this site by our partners at Republic Development in Toledo. Their understanding of the city / market, the need for new rental housing, and a desire for a product that can attract young professionals and empty nesters fit what J.C. Hart can deliver,” said Mark Juleen, vice president of marketing for J.C. Hart Company.
According to officials, the site – called SOMO by the Sylvania City Council, which stands for South of Monroe Street – will be built in two phases. Phase I will house 206 apartment homes and will feature amenities such as a swimming pool, a fitness center, a fire pit, a grilling area, a Wi-Fi lounge, a conference room, a walking path, an outdoor terrace, and underground parking. The apartment units will be a mix of one, two, and three-bedroom apartments with monthly rents ranging from $750 to $1,500. According to Juleen, the one-bedroom apartments will range from 600-1,000 square feet; the two-bedroom apartments will range from 1,000-1,400 square feet; and the three-bedroom apartments will range from 1,400-1,800 square feet.
“The apartments will include modern finishes with stainless steel appliances, LED lighting, kitchen islands, oversized windows, large soaking tubs, and selected units with additional upgraded features,” said Juleen.
Phase II, according to J.C. Hart Company, will eventually become a 13,000 square foot building for commercial and/or office use.
Juleen noted that all of J.C. Hart Company’s buildings meet all code requirements and utilize LED lighting throughout.
The groundbreaking ceremony was held in mid-April in conjunction with the Sylvania Chamber of Commerce and the first apartments will likely be delivered in the fourth quarter of 2020, noted Juleen. Indianapolis-based Weaver Sherman Design is the architect for the project and J.C. Hart Company is the general contractor for construction of the apartments.
According to Juleen, J.C. Hart Company will manage the community and is expected to create five to seven jobs as a result of the project.
When speaking of the impact SOMO Flats will have on the Sylvania community, Juleen said, “Adding 206 more homes to the area can help stimulate local business economics – adding high-income younger people to the city’s demographics and retaining empty nesters looking for maintenance-free living.”
Republic Development has previously partnered with J.C. Hart in its Avon (Linden Square) and Fishers (District at Saxony) projects in Indiana. Republic is headquartered in Toledo, in close proximity to the SOMO site.
In the past 40 years, J.C. Hart has built over 8,000 apartment units, with a total loan value of over $750 million. J.C. Hart’s current portfolio, according to the company, is 5,447 apartment units located in 24 Indiana communities including Indianapolis, Greenwood, Avon, Carmel, Westfield, Noblesville, Fishers, Bloomington, and West Lafayette.
Along with the SOMO project, J.C. Hart has four other projects in Indiana currently under construction, equaling an additional 814 apartment units. According to the company, further expansion targeting Ohio and Michigan will help to achieve the company’s goal of 12, 000 apartment units by 2025. The SOMO development is the company’s first project outside of Indiana.