According to Regent executives, Brookstone Apartment Homes will satisfy the city's need for upscale rental housing, since occupancy rates currently stand at 95% or higher.
Eddy Benoit, Regent's VP of development/construction based in the firm's Atlanta HQ office, says in a prepared statement rents start at $620 for a one-bedroom unit and top out at $970 a month for a three-bedroom unit. The units range in size from 652 sf to 1,276 sf.
Leasing interest in the units has been strong since mid-February, Benoit tells GlobeSt.com. "It's been well-received and is leading the market as far as product is concerned," he says. "There is no other luxury product in the city of Rock Hill."
Benoit tells GlobeSt.com there is a strong demand for upscale rental housing in Rock Hill. "The city has a high occupancy level, somewhere north of 95%," he says. "And, there's no real seasonality in this market--the occupancy rates have been pretty consistent."
Lower property taxes, lower housing costs and its accessibility (a 10- to 15-minute drive) to Downtown Charlotte make Rock Hill a desirable location, Benoit says. "It's a growing market, and will continue to grow," he says, "because it's accessibility to downtown Charlotte."
The development, which cost $25 million to build, was financed by South Trust Bank.
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