98-unit rental development proposed in Cary at higher density than village standard
Developers are looking to create a 98-unit multifamily rental community in Cary at the northwest corner of Industrial Drive and Reuben Lane.
Eight two-story buildings and a clubhouse of about 3,500 square feet with outdoor amenities would be built on the 4.5-acre site.
Developer Sterling Hall requested that the village board waive a number of requirements from the application, including a traffic study, a market study, a drainage plan and an open house.
Other variations include 10 fewer parking spaces than normally required and an increased density from nine units per acre to 22 units per acre.
The Cary Village Board unanimously approved the initial requests on Tuesday. Developers’ next steps are to submit a preliminary development plan and seek approval from the board of zoning, planning and appeals.
The village supports developers’ drainage plan waiver request since the site would be part of the Kaper Commercial subdivision, and stormwater detention already is provided from a basin nearby, Cary Director of Community Development Brian Simmons said.
Village staff also agreed that a traffic study isn’t necessary because the existing roads are designed to accommodate future growth, according to village documents.
Of the 98 units, 42 would have one bedroom, another 42 would have two bedrooms, and 14 would have two bedrooms with a den. Garage, surface lot and guest parking spots would total 210 spots, according to the proposed plan.
“The density and the parking are the two biggest things that I want to try to get some sense of comfort [with] before I take this to the next level,” Sterling Hall President Kevin Micheli said.
The apartments would be rented at market rate, Micheli said. Developers plan to rent out one-bedroom apartments for about $1,500 to $1,700 per month, while two-bedroom units will go for about $1,800 to $2,500.
“Our biggest demand has been those smaller apartments because they hit that market-rate affordability,” Micheli said.
Trustees had positive feedback for the project, but some had concerns about the density variance request, which is more than double Cary’s standard, and the large parking lot.
More green space and a potential one-story rendering were requests made by Trustee Rick Dudek.
“It looks like a sea of parking,” Dudek said. “It needs more color.”
The project also would require a rezoning request, according to village documents.
Sterling Hall created a similar community in Mundelein. The company plans on using the same appliances and finishes as the Mundelein location.