An 80-unit apartment building meant to attract “millennials” to Downtown Fayetteville is being proposed for the corner of North Glynn Street (Hwy. 85 North) and Lafayette Avenue, one block north of the Old Fayette County Courthouse.
Buckhead-based ReaVentures Group, LLC, the developer, is asking the city for permission to build the structure along with 122 parking spaces on 4.7 acres of land that involves portions of five different tracts of land, including one partly owned by Fayetteville Planning and Zoning Commission Chairwoman Sarah Murphy.
According to the developer’s rezoning application letter, the project would be called “Abbington Square,” and it would include a mix of 750-square-foot units offering one bedroom and one bathroom; 1,055-square-foot units offering two bedrooms and two bathrooms; and 1,225-square-foot units offering three bedrooms and two bathrooms.
“Rents would be set at both market rates and at capped below-market ‘affordable’ housing rent levels,” the letter states.
“Fayetteville leaders have expressed a desire to attract a younger crowd of professionals due to the growing movie industry and the current low retention rate of post-college workforce,” the letter continues. “The current draft of the [Fayetteville Conceptual Master Plan] identifies the addition of multifamily housing in or near Downtown Fayetteville. Our proposed development will aim to attract a working millennial tenant base through the walkable location adjacent to Downtown Fayetteville and the amenities provided.”
As proposed, the building would feature interior, climate-controlled corridors as well as art studio space, a business center, workout room, and outdoor community garden.
Planning and Zoning Commission members are scheduled to look at the project during their Apr. 26 and vote on a recommendation to give to the Fayetteville City Council.