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Multifamily Tuesday: New $35M Morehead Dev

Multifamily Tuesday: New $35M Morehead Dev
An as-yet unnamed, 250-unit, $35M multifamily development could crop up on Midtown's Morehead Street this year. (So be on the lookout for it when you're waiting for the Great Pumpkin.) The McAlpine Cos? Lindsey McAlpine tells us he plans to build the project, along with McAlpine?s Shane Seagle, as Southern Apartment Group.
Local group planning $35M apartment project on Morehead Street
An unidentified financial partner is also joining in on the project. Lindsey, under the name Morehead Property Investments, has filed a rezoning petition to allow the development. A public hearing is set for March 19. Anticipated rental rates for one- and two-bedroom units will be about $1,000 to $1,800 per month. The project is being designed by DAS Architecture. A GC hasn't been selected.
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