Lynchburg Business

Luxurious Apartment Development Coming to Forest

Issue: February 2013 by Drew Menard in Architecture, Engineering & Construction, Inside The Magazine

Take upscale living in a peaceful, well-lit neighborhood, add the amenities of a country club, throw in a breathtaking view of the Blue Ridge Mountains at no charge and you have Farmington, a classy, 2,200-acre community in the heart of Forest. Take all those perks minus the maintenance headache of homeownership, cut the cost and you have Jefferson Forest (JF) Manor, a new apartment development in Farmington.

Ground has already been broken on phase one of JF Manor, which is set to open in May and is already preleasing. The first phase will include two three-story buildings encompassing 48 units—40 two-bedroom and eight three-bedroom apartments. In all, the development is projected to include six buildings (two slightly smaller than the other four) and a total of 132 apartments.

“Forest is a booming area right now,” Brian Davis, owner of The Rental Group, which is managing the property, said. “The area is growing rapidly. [It has] little shops and malls and Kroger and your post office … and you’ve got three golf courses in Forest.”

Davis added the investor, The Lester Group, did a study finding another apartment complex in the Lynchburg area, even one of this large of size, would do well in the Forest area. The developers acquired zoning for luxury, high-standard apartments and the deal closed in December 2012. The site is on Glade Springs Road, right off Perrowville Road near Jefferson Forest High School.

“I think it’s really neat that investors from outside of Lynchburg are coming in and putting a $9 million project up in Farmington, trusting the greater Lynchburg area to take off and exceed their expectations of being able to rent that many properties,” Davis said.

Davis is also glad they “put a lot of faith in a local company,” rather than going through a state or nationally managed company like some downtown properties use.

“They are using local dollars here in Lynchburg and Forest, local companies here in Lynchburg and Forest, hoping to house local workers,” he explained.

Wellington Builders, Inc., is tackling the construction and Taylor Brothers is supplying the materials. The layout of the apartments will be similar to those in Wyndurst and Cornerstone. Each unit offers laminate hardwood floors, custom maple cabinets, modern stainless steel matching appliances, upscale granite countertops, a washing machine and dryer and includes trash services. The neighborhood is clean, well lit and quiet.

For a two-bedroom, 1,000-square-foot apartment in Jefferson Forest Manor, the cost is $815 a month (not including utilities). Three-bedroom apartments, of which fewer are available, are 1,100-square-feet and cost $910 a month (not including utilities). For an optional fee of $400 a year, residents will have full membership to the Clubhouse at Farmington that features a pool, fitness center, spacious lounge and movie theater.

Davis anticipates the market for this development will appeal predominantly to two demographics—retirees and up-and-coming professionals with a taste for luxurious living but who are not quite ready to purchase a home. Also, business professionals with companies like Teva Pharmaceuticals, who are being relocated to the area may also use JF Manor as temporary housing while looking for a home.

For retirees, Davis says Jefferson Forest Manor is the perfect location with mountains, trails, golf courses, lakes and a fair distance from many of the local colleges. And since The Rental Group manages emergency repairs and landscaping, they can focus more energy and time to enjoying retired life.

“I think [Jefferson Forest Manor] will fill that need and void of an apartment complex that is truly geared towards retirees, and that has the amenities that this will have,” Davis said.

He also believes that the property will hold an allure for the recent graduates of local colleges, including Lynchburg College, Randolph College and Liberty University.

“Many of these students are not leaving the area,” Davis said. “They are starting companies and websites, becoming entrepreneurs and getting in on the ground floor of some of the large companies here in Lynchburg. … What I think it is doing is just pumping money right back into Lynchburg.”

While the fallout of the nation’s recent economic collapse has driven more people, especially recent grads and young families, toward renting rather than homeownership, Davis sees a positive in that people are saving more before buying a home and being smarter with their finances. He sees Jefferson Forest Manor as a great place for them to find luxury and serenity in the meantime.

Davis’ goal, and the mission of The Rental Group, is to service renters like no other rental company. Since its start in 2010, The Rental Group has expanded from managing 40 properties to now more than 600. He says this expansion is a testament to the care they give to the individual, letting them know that they matter by answering calls and emails, showing properties and adding the friendly touch of a small company.

“You are not just a number when you walk in that door,” Davis said.

He also recognizes the need to stay current in a digital age. The Rental Group is online and linked to Facebook. The site is savvy and provides a lot of information about available properties. For renters, it also provides the ability to submit maintenance requests and pay rent online.

For more information on Jefferson Forest Manor, visit www.therentalgrouponline.com or call (434) 237-8167.