Wood Partners to Build 230-Unit Mixed-Use Community in Columbia
- May 04, 2015
Wood Partners, LLC is bringing 230 much-needed apartments to downtown Columbia. The Atlanta-based real estate company said it will break ground this month on a new mixed-use community in the area. Called Alta Wilde Lake, it will be a key component of the redevelopment at Wilde Lake Village Center.
The project will cost approximately $45 million. It was designed by JDavis Architects. Wood Partners will develop it on a 2.79-acre site, at 5420 Lynx Lane. The new community will consist of two, five-story apartment buildings. They will be connected by a three-level sky bridge over Lynx Lane. Besides the 230 apartments, Alta Wilde Lake will also feature approximately 5,000 square feet of ground-floor retail space, as well as numerous other amenities, including a clubhouse, business center, a pool and a state-of-the-art fitness center. Wood Residential Services will manage the new community.
The apartments are expected to be available for lease in the summer of 2016. Scott Zimmerly, director of the Mid-Atlantic Region for Wood Partners, said in a news release that very few projects are slated for delivery in the area over the next 36 months. He added that, as occupancy tightens, rents are likely to continue to grow this year.