Construction is wrapping up on the NOBAY residential development in downtown Lakeland.
- NOBAY includes 55 apartments, 11 retail spaces
- Developer hopes for September move-in date
- Developer hoping to lure restaurants to lower level
NOBAY includes 55 apartments and 11 retail spaces. The new apartment buildings are at the corner of Bay and Kentucky, and they fill most of the block.
The two-bedroom units are townhome style, and the one bedroom apartments, located above the retail spaces are studios, with an open floor plan. More than 70 parking spaces will be located behind the apartment buildings.
The developer, Broadway Real Estates Services, hopes for a September move-in date.
“Everybody has been pushing real hard for the September opening. I believe we’ll get there,” CFO Tom Anderson said. “It’s going to be a heck of a living here. NOBAY is going to be the most modern, well-designed place to be.”
The developers began pre-leasing units at the end of April. The studios are going for $850 per month, while the townhome-style two-bedroom apartments start at $1,750 per month.
“We manage another apartment complex here in Lakeland and we’re pretty familiar with how the rates work and what we think we can do,” Anderson said. “Certainly not Tampa or Orlando rates. “
Anderson also said his company is talking to some restaurant owners, hoping they’ll move into the lower level retail spaces. He said he wouldn’t disclosed the names of the restaurants until the deal was sealed.