Scannell Properties building mixed-use apartment and retail development near health complex in Bloomington, IN
Scannell Properties, an international commercial real estate developer, has launched the development of Relato Apartments, a multifamily mixed-use project consisting of 234 apartments and approximately 14,000 sq ft of commercial space, located near the university hospital complex in Bloomington, IN.
Relato Apartments will include studio, 1, 2 and 3-bedroom apartments; a 4-story parking structure; retail space; and a host of community amenities including a resort-style pool, 24-hour fitness center, pet grooming spa, meeting lounge with conference rooms, outdoor green spaces with fire pits and grilling stations, social lounge and resident lounge with complimentary coffee bar.
“We’re developing the project with every need in mind to create a modern living experience that encourages community. It will be a place for our residents to live, relax, socialize, exercise, and enjoy the local environment,” said Tom Jasin, development manager at Scannell Properties.
Construction began in December, with pre-leasing expected to begin this fall. Relato Apartments will be move-in ready in Fall 2023. Apartment units will be market rate, with 5 percent restricted for residents earning below 120 percent of AMI and 10 percent restricted for residents earning below 100 percent AMI.
In addition to Scannell Properties, the following companies are involved in the Relato Apartments project:
- Leasing and Management: Asset Management
- Financing: Lake City Bank
- Construction: Shiel Sexton
- Development Partners: Curry Urban Properties and Tempo Development + Lifestyle
For more information, go to relatoliving.com.