Lorain to Gain New Adult Rental Community
- Feb 06, 2015
By Adrian Maties, Associate Editor
The Greater Cleveland area will soon benefit from some much-needed residential units. Work is scheduled to start this winter on The Village at Lighthouse Point, an upscale adult rental community that should fill a rental need in the city of Lorain.
Jovic LLC and The Bouman Group LLC are building the property. The two developers hired KS Associates Inc. to provide site design services for the project. Last week, the Elyria-based civil engineering and surveying firm announced that it finished site design services for the 60-acre development.
The Lorain Planning Commission approved the project on Aug. 6, 2014. It calls for the construction of 298 suites on Jaeger Road, west of the Lighthouse Village shopping center. The units will be located in 52 one-story buildings and will range in size between 1,200 and 1,900 square feet. Amenities include park-like landscaping with walking trails and several acres of ponds.
The project also includes a commercial portion, to be constructed on 30 acres of the site. The total cost of the development is expected to be $62 million.
According to KS Associates, the first rental units at The Village at Lighthouse Point will become available this fall. The entire project is scheduled for completion in 2018.
Photo credit: KS Associates