SomeraRoad has announced plans to build a multifamily complex in the bustling St. Elmo district, with a total of 230 units. As part of the development, 10% of these rental units will be offered at an affordable price for households earning 50% median family income, which was $122,300 for a four-person household as of June 2023.
The company acquired the necessary land for this project in November and also purchased the nearby St. Elmo Public Market on South Congress Avenue between St. Elmo Road and Industrial Boulevard.
In addition to this residential development, SomeraRoad is also redeveloping the adjacent retail building spanning over 42,000 square feet into two popular entertainment concepts – Pins Mechanical and16-Bit Bar+Arcade – both expected to be fully leased upon completion by early first quarter of2025.
