Infill aims to complement

Myers Park apartment building to be condos

DOUG SMITH

A new residential developer's first project will make a statement about the company.

Insite Residential LLC plans to convert an 85-year-old Myers Park apartment building to condos, saving many of the original features and making sure it blends with the neighborhood.

Principal David Smoots describes the company's approach to residential infill and mixed-use projects as "speaking to the neighborhood" rather than relying on cookie-cutter designs that might appear out of place.

The Ardsley at 1025 Ardsley Road will combine new plumbing, heating/air and electrical systems with original plaster walls, quarter-sawn hardwood floors, 9 1/2-foot ceilings and Spanish tile roof elements.

Smoots estimates the value of the project at $2.3 million.

Eight condo flats in the two-story masonry and steel structure will range from 900 to 950 square feet and be priced about $270,000 to $290,000.

Smoots said all the apartment tenants have relocated.

The new company is a wholly owned subsidiary of Insite Properties LLC, which had been seeking a residential partner to complement its office and retail development business.

Principal Jay Blanton said that by teaming with Smoots, Insite will enhance its ability to do mixed-use projects that include retail, office and residential.

Urban planners favor such projects because they tend to be pedestrian-friendly and help reduce air-polluting car trips.

Blanton said becoming a multifaceted developer was part of Insite's long-term strategy.

In its Mint Hill Village project on Matthews-Mint Hill Road, the company earlier sold a townhome tract to a residential developer, Blanton said, because it didn't have the capacity at the time to take on such projects.

Six-year-old Insite Properties has more than $30 million in commercial development under way, including projects in Matthews and Mint Hill.

Smoots said Insite Residential has identified sites in Charlotte for future projects and will look for opportunities to develop apartments, condos, townhomes and single-family homes throughout the region.

Blanton said he and Smoots have known each other for about 10 years and felt comfortable working together.

Smoots left Charlotte custom home builder Simonini Builders in January after five and a half years as sales manager with the aim of running his own business.

As the principal at the helm of Insite Residential, that's what he will be doing, Blanton said.

DEVELOPMENT

The Ardsley

Project: Conversion of apartment building at 1025 Ardsley Road to eight condos.

Units: 900 to 950 square feet, priced in the $270,000- to $290,000-range. Two condos have been reserved.

Features: Enclosed balconies, optional screen porches, covered parking with storage, stainless steel appliances, granite kitchen countertops, full tile shower with bench.

Timetable: Construction to start in mid-March, completion by October.

Development team: Insite Residential, developer; Doerre Construction, contractor; The Wilson Group, architect; Urban Design Partners, site engineer, First Charter, lender.

Sales: Bissell Hayes Inc., Realtors, Missy Stewart. Doug Smith