Story HighlightsMilhaus has started construction on the 306-unit Slate development in Springdale.The project includes 216 apartments and 90 townhomes.Rents range from $1,250 to $2,500 with various amenities planned.An Indianapolis developer has broken ground on a project that will bring hundreds of apartments and townhomes to a surface parking lot that once served a movie theater in Springdale.Milhaus began construction April 2 on Slate, a 306-unit development on 17.8 acres at the southwest corner of West Crescentville Road and Northwest Boulevard, just north of Showcase Cinema de Lux Springdale 18.Milhaus is partnering on the project with Parse Capital, a residential real estate investment firm headquartered in Arizona. First Financial Bank is providing project financing.The developers April 7 acquired the site for $3.7 million through Springdale–Cinema LLC from National Amusements Inc., which owns Showcase Cinemas.The site was previously used as overflow parking for the movie theater. Theater traffic declined following the Covid-19 pandemic, however, and the theater had an oversupply of parking to begin with.Six three-story multifamily buildings will offer 216 apartments – 54 studios, 114 one-bedroom units and 48 two-bedroom units. The apartments and townhomes will be served by 496 parking spaces, with 316 surface spots and 180 garage spots.expandA rendering of the apartment buildings at Slate in Springdale.MilhausThe rents are expected to range from $1,250 to $2,500.Sixteen buildings will provide 90 townhome-style units – 24 two-bedroom units and 66 three-bedroom units.Onyx + East is developing the townhomes at Slate.Amenities will include a resident lounge, pool with sun deck, coffee bar, fitness center and dog park.This is the developer’s second project in Springdale. In 2023, it completed the $43 million, 216-unit Array apartments across Springfield Pike.Spencer Lee, development manager at Milhaus, said in a media release moving forward with Slate reflects the developer’s confidence in the “thriving” suburban community.”With Cincinnati ranking nationally as the best place for young professionals nationwide, S …
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