Overview
The Park at Summerhill
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The Park at Summerhill

Huntsville, AL

Fund:

Auerbach Opportunity Fund I, L.P.

Type:

Residential/Multi-Family

Size:

223 units, 179,000 SF

Key Tenants/Features:

Address:

4515 Bonnell Drive NW, Huntsville, AL 35816

Description:

The Park at Summerville is a 223 unit multifamily asset comprised of 18 buildings resting on 13.25 acres.  The asset, originally built in 1986, is located 1.5 miles from University of Alabama at Huntsville and 4.5 miles from downtown Huntsville which is the fastest growing metropolitan area in Alabama projected to add 39,000 new residents by 2019 and surpass the state capital of Montgomery in population by 2022.

The Huntsville MSA is home to companies including Google, NASA, and Boeing.  These companies continue to recruit educated workers in the market. Leading to strong job growth has been surpassing the U.S. average since 2015. Recent announcements from Google, Aerojet Rocketdyne, Polaris, Toyota, and Mazda have only added to the fast-growing economy.  Vacancies in Huntsville historically average around 9% and have gradually decreased since the beginning of 2015. In 2016, vacancies did slightly rise, due partially to the delivery of The Avenue (197-units), the only project that delivered in 2016.

The property is conveniently located in close proximity to major employers: 1.5 miles north of University of Alabama, Huntsville, 4.5 miles northwest of downtown, 8.5 miles north of Redstone Arsenal, 4.5 miles northeast of Cummings Research Park, and 7.1 miles north of NASA’s Marshall Space Flight Center.

Property Features:

  • Pool
  • Tennis Court
  • Parking

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