The Dayton City Commission has approved a zoning map amendment to rezone nearly 13 acres of vacant land in the Five Oaks neighborhood.
Developer Magnus Capital Partners wants to create new housing at 325 Homewood Ave. and 707 Forest Ave., which were formerly home to Julienne High School and the Hampton Square Apartments.
The Michigan-based developer wants to construct seven two-story “stacked flats” buildings around the perimeter of the western and southern portions of the site.
The plan also calls for constructing four apartment buildings that are four stories tall on other parts of the property.
Grade changes between the eastern and western sections of the property means the upper units of the new proposed apartment buildings should have spectacular views of downtown, Kroeger said.
Magnus also wants to create commercial space in one of the Forest Avenue buildings that most likely would be a daycare.
The project also likely would include many amenities that are found at the company’s other residential properties, which are call the HŌM Flats.
Kroeger visited HŌM Flats developments in Holland and Wyoming, Michigan.
He said the properties have playgrounds, dog parks, pet washing stations, pickleball courts, rooftop terraces, programming and common spaces for residents including kitchens, lounges, study areas, exercise facilities, kids rooms, yoga rooms and cafes.
“Seeing is believing — I saw well maintained properties, I saw extensive programming with residents and I saw amenities I’ve never seen in a multi-family complex, nothing like I’ve seen in Dayton,” he said.
Magnus’ HŌM Flats projects are meant for people who don’t qualify for subsidized housing but who also can’t afford more expensive market-rate housing options.
The project still needs final site design approval from the Dayton Plan Board.
Some community members raised concerned about the density of the proposed project, the potential impact on traffic and they questioned whether the neighborhood could handle an influx of 260 new housing units.
Kroeger said Five Oaks lost 9% of its population between between 2010 and 2020 and the number of residents has shrank by 43% in the last three decades.
“Five Oaks’ population feels like it should be able to absorb 260 units when you’re talking about a neighborhood that’s faced challenges,” he said. “We all love Five Oaks, and we’re all rooting for Five Oaks so much, but it’s lost 2,000 people from 1990 to 2020.”
The project received some criticism earlier this year during a meeting of the north central land use board. But the developer made some changes to its the designs, arrangement and appearance of the buildings.
The proposed apartment buildings now have a mid-century modern design that also has “historical nods” to the old Julienne school.
The HŌM Flats brand is about creating better living conditions for the community’s workforce, said Vishal Arora, the founder and CEO of Magnus Capital Partners.
“We felt very strongly there was and is a persistent shortage of quality housing,” he said.
HŌM Flats offers the kinds of amenities typically seen in upscale Class A apartments in units that are affordable to the middle-income workforce, he said.
This include open-floor plans, custom cabinetry, stainless steel appliances, kitchen islands and full-sized washer and dryers.
The typical resident of the HŌM Flats properties is around 35 years old, owns a pet and the top reason residents do not renew their leases is because they are buying a home, Arora said.
Rents in the existing portfolio of HŌM Flats properties range from $1,000 to $1,400.
Jule Rastikis, president of the Salem Avenue Business Association, said northwest Dayton has a huge need for new housing, and this project also hopefully can help address the area’s retail desert.
Joe Craig, president of the Five Oaks Neighborhood Association, said he believes this project will strengthen the Five Oaks neighborhood.
Magnus Capital Partners “actively sought our input and our ideas, they worked to address our concerns about the project to this point, especially traffic ... as well as design of the project,” he said.
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