Monroe Gates Apartments
Monroe Gates Apartments is currently under construction and situated on land that enjoys a highly visible location in the historic Phoebus neighborhood of Hampton, Virginia.
Monroe Gates Apartments enjoys a very prominent location in the Phoebus neighborhood. The site has very long and visible frontage on Mallory Street, which is the main street that crosses through Phoebus. The Phoebus neighborhood is the gateway neighborhood to Fort Monroe, the historic Army base first founded as a Fort in 1610.
The Phoebus neighborhood is currently enjoying a significant renaissance activity. New restaurants are opening and re-establishing this area as a vibrant part of the City of Hampton. The Mellen Street corridor, which is only a few yards from the site and within walking distance, hosts most of the many Phoebus cultural and entertainment venues. There is the American Theatre known for its live performances, Mango Mangeaux, a restaurant that had its beginnings on Shark Tank, The Point, El Diablo Loco Cantina, and Olde Towne Tavern, which are all local favorite restaurants. All of these restaurants do a sold-out business nightly. In addition, Mellen Street is host to numerous retail stores and art galleries which add to the vibrancy of the area. Phoebus is also anchored by strong service businesses.
Taking a broader view, Monroe Gates is in great proximity to transportation and jobs. The entrance to Interstate 64 is only a few hundred feet from the site. Interstate 64 is the main interstate serving the entire Hampton Roads area. Interstate 64 carries over 170,000 cars daily in many areas, and right at the Mallory exit the interstate has a daily traffic volume of 89,000 cars. The two major airports are also only twenty minutes away, in opposite directions. To the south is the Norfolk Airport (ORF) and to the north is Patrick Henry Airport (PHF). Both airports offer services throughout the nation.
With regard to jobs, the site sits in the middle of some of the area’s largest employers. The employment base is truly impressive. Within walking distance is a very large Veteran’s Administration (VA) Hospital, a nationally renowned university, and Fort Monroe. Within a few miles of the site are the largest Naval base and the largest shipbuilding operation in the world.
We are currently building 162 apartment units on the site. There will be eight two-story townhome units, four carriage home units and the remaining 150 units will be one and two-bedroom apartments in five buildings that are three stories in height.
Each of the five buildings will be elevator-served. Each apartment shall have interior decorator designs featuring contemporary colors, ten-foot ceilings, stainless steel appliances, electronic key fobs, granite countertops, vinyl plank floors, quiet close custom cabinet doors, and private patios.
The community shall feature a clubhouse with a fitness center, media room, conference facilities, computer and printer access, leasing offices, “Wow” room with kitchen and coffee bar, outside grill, patio, a dog park and a pool. In addition, the property shall feature very attractive private garages (27 in total) available for lease. The property shall be gated and have controlled access. The buildings shall have the appearance of urban two and three-story townhomes. Brick shall be used extensively throughout the site.
Overall this site meets all of the criteria of an excellent infill apartment site. The site has great visibility, great access, strong proximity to large employment base, and is located in a proven desirable residential area. All of these items contribute to the overall viability of the site as an outstanding infill multi-family site.