Third phase of Brookview Terrace under construction
DeKALB – New apartments and stores are being added as part of a new, mixed-use development behind Advance Auto Parts at 2151 Sycamore Road.
Developer John Pappas said plans for Brookview Terrace, a development with seven small commercial spaces and eight apartments, have been in the works for about three years.
“This was the time to pull the trigger,” said Pappas, who owns Pappas Development. “There is demand for high-end, executive apartments.”
In 2010, the DeKalb City Council approved a proposal from Pappas to build three commercial buildings in the area. Construction on two of the buildings was completed in 2011. Pappas now is building the third, and largest, of the development.
Pappas said the two-bedroom apartments would be on the second floor of the new building.
Each apartment will have between 1,350 to 1,400 square feet of space, along with granite countertops, hardwood floors, a shared exercise facility, and balconies overlooking the nearby Nature Trail, Pappas said.
Pappas estimated the rent for the new apartments would be between $1,100 and $1,200 a month.
Ralph Crafton, a broker at Hoffman Realty, a real estate brokerage firm based in Monroe Center, said the apartments would not be aimed at college students.
“By nature and design, we’re targeting more mature professionals,” Crafton said.
The 11,500 square feet of commercial space on the first floor will be divided into seven business suites. Pappas said he is talking with prospective tenants for the commercial space, including a brewing company as well as some offices. He declined to comment further because leases have not been signed.
Roger Hopkins, the economic development consultant for the city of DeKalb, said he expected the building would attract service-based businesses, not retail.
“It’s a recognition on our part, unless you have real strong visibility from a major highway, you’re not going to attract good commercial tenants,” Hopkins said, referring to similar locations in the city.
Pappas said he expected construction would be finished within four months.
“I’m excited about it,” Pappas said. “It’s a great thing for the city. It puts people to work. It’s positive all the way around.”