By Kevin Boneske
HOWARD – The company that manages and markets the Howard Commons apartment complex is looking at constructing multi-family units in the Village Center with lower rental rates than the Howard Commons.
Erik Goerke, CEO/owner of Alliance Management, appeared Monday, Nov. 12, before the Howard village board, which approved the company’s request for a six-month option to purchase on three parcels in the Village Center.
The proposed site plan Goerke presented called for a development with 74-90 units with attached parking and would allow room for a 25,000-square-foot office building to be built in the area.
Goerke noted the rents for a mix of one- and two-bedroom apartment units would be lower than the Howard Commons with fewer amenities.
“Instead of rents peaking at $1,500-$1,600, they would peak at around $1,300 roughly,” he said.
Goerke said those units would be priced to attract the value seeker portion of the rental market, rather than those who would want the luxury apartments in the Howard Commons.
The building design, Goerke said, has not yet been finalized and could be either three stories or two stories with lofts.
He noted the amenities could include, the potential for first-floor walkouts, granite/quartz countertops, hard surface flooring, private entrances or common area with elevators, Amazon Hub package delivery, attached parking for many of the units and detached parking for some one-bedroom units.
Goerke said Alliance expects to spend at least $30,000 on architectural fees and different types of site surveys with the six-month option to design and agree on the development and tax incremental financing terms with the village management and board.
“We just want to make sure that we come to a project that fits this project, but that’s something we could get approved in the future and we have time to work on,” he said.
The option to purchase for Alliance expires May 12.