CHAPEL HILL — A third developer is making a run at building a housing subdivision on Homestead Road – this time for older adults.
Ohio-based developer Epcon Communities will propose 66 single-family condominium homes on roughly 18 acres at Monday’s Town Council meeting. The council could offer feedback on the Courtyards of Homestead proposal but won’t make any decisions.
The council also will hold a public hearing on proposed changes to the town’s Planning Board and Community Design Commission. The meeting begins at 7 p.m. at the Southern Human Services Center, 2501 Homestead Road.
Developers have proffered two other plans in the last few years for 2209 Homestead Road, just west of the Southern Human Services Center complex.
In 2010, Alabama-based Capstone Co. proposed more than 190 apartments on 33 acres, and Landmark Properties, of Athens, Ga., offered the Retreat at Homestead Road in 2011, with 174 student cottages on roughly 38 acres.
Both projects were dropped without being formally submitted to the town.
Epcon officials envision homes for adults ages 50 and older who are looking to downsize in their retirement years. The plan calls for two- and three-bedroom homes with private courtyards and two-car garages, priced at $240,000 to $400,000.
The developer is offering to keep at least 15 percent of the condos affordable to those with lower incomes.
Management would be responsible for yard maintenance and common areas, including a clubhouse and community pool. Because most residents would be older and retired, the development is not expected to increase the demand on Homestead Road at peak traffic hours, the developer stated.
The project would replace two homes and several small farm buildings on three parcels adjacent to the railroad tracks.