J.C. Hart Company is Expanding Into Sylvania Ohio
J.C. Hart is expanding, and outside of Indiana. J.C. Hart Company Inc. with business partner Republic Development, LLC, have been selected by the town of Sylvania, Ohio, to purchase and develop a 5.5 acre site for luxury apartments and commercial space. The site, called SOMO by the Sylvania City Council (which stands for South of Monroe Street) will be purchased for $1.2 million and will be turned into a $30 million investment over two phases. Phase I will house 206 apartment homes, a clubhouse, pool and underground parking. The units will be a mix of 1, 2 and 3-bedroom apartments with monthly rents ranging from $750 to $1,500. Phase II will eventually become a 13,000 square foot building for commercial and/or office use.
J.C. Hart is super excited to be entering the Sylvania market, and this maps directly to our Trek To The Summit. At J.C. Hart, committing to do something big and audacious creates a greater sense of purpose for the long haul and drives us all toward a common visionary outcome. Our BHAG is our long term, very significant goal. It defines the peak of our mountain and inspires us to journey together to bring exceptional impact to people in 12,000 J.C. Hart homes. It’s an ambitious undertaking and together, we will succeed.
By December 31, 2025 we will provide enjoyable
living experiences to families
in 12,000 J.C. Hart homes
Stay tuned for more information from J.C. Hart, you might be hearing again from us very soon!
Below is the full transcript of the Press Release (PDF):
J.C. Hart Company, Inc.
805 City Center Drive, Suite 120
Carmel, IN 46032
Phone (317) 573-4800
Fax (317) 573-4808
Press Release
FOR IMMEDIATE RELEASE MARCH 8, 2017
J.C. HART COMPANY, INC. EXPANDING INTO OHIO
CARMEL, IN, MARCH 7, 2017:
J.C. Hart Company, Inc., headquartered in Carmel, Indiana, along with business partner Republic Development, LLC, have been selected by the town of Sylvania, Ohio, to purchase and develop a 5.5 acre site for luxury apartments and commercial space. The site, called SOMO by the Sylvania City Council (which stands for South of Monroe Street) will be purchased for $1.2 million and will be turned into a $30 million investment over two phases. Phase I will house 206 apartment homes, a clubhouse, pool and underground parking. The units will be a mix of 1, 2 and 3-bedroom apartments with monthly rents ranging from $750 to $1,500. Phase II will eventually become a 13,000 square foot building for commercial and/or office use.
Republic Development had previously partnered with J.C. Hart in its Avon (Linden Square) and Fishers (District at Saxony) projects. Republic is headquartered in Toledo, in close proximity to the SOMO site. Construction of the SOMO project is set to begin yet this year, or in early 2018, pending zoning approval by Sylvania’s Planning Commission and City Council.
In the past 40 years, J.C. Hart has built a total of 7,763 apartment units, with a total loan value of approximately $600 Million. J.C. Hart’s current portfolio is 5,073 apartment units located in 25 Indiana communities including Indianapolis, Greenwood, Avon, Carmel, Westfield, Noblesville, McCordsville, Fishers, Bloomington and West Lafayette. Current expansion targeting Ohio and Michigan will help to achieve the company’s “BHAG” of 12,000 apartment units by 2025!
For more information, go to www.homeisjchart.com.