Capstone Building Corp., along with Penrose-BLOC LLC, is starting phase two of Stoneridge Villas in Madison. The $9.9 million phase covers 85,551 square feet and is set to be complete in mid-2022.
The senior living facility is comprised of 12 single-story apartment buildings with 65 units in one- and two-bedroom options.
Capstone is working on the project with Penrose-BLOC LLC, a collaboration between Penrose LLC and BLOC Global Development Group LLC. In addition, EDT-THA is serving as architect on the development.
“The entire team at Capstone Building Corp. enjoys collaborating with developer Penrose LLC to offer luxury and affordable housing to senior citizens in the Huntsville community,” said Jay Chapman, president and CEO of Capstone Building Corp.
Earlier this month, Capstone completed the Herndon Square senior living apartment complex in Atlanta, Georgia. That project was executed by Penrose LLC and the Atlanta Housing Authority, with Capstone working with Hunt Companies and Oakwood Development Group on the $14 million project.
Herndon Square Senior is a 97-unit, 101,691-square-foot apartment community that includes 87 one- and two-bedroom units. Herndon Square Senior is part of a larger mixed-use and mixed-income redevelopment of the former Herndon Homes site.
Headquartered in Birmingham, Capstone Building Corp. is focused on multi-family developments. Since 1997, the company has completed a portfolio of 115 projects in 22 states valued at more than $1.8 billion.