Daily Independent (Ashland, KY)

Local News

October 7, 2007

Providence Hill ready for condo phase

Prospective buyers get sneak peek

ASHLAND — Groundbreaking remains in the future but prospective buyers flocked to Providence Hill on Saturday for a sneak peek and a chance to plunk down a deposit on one of the luxury condominiums planned for the promontory overlooking downtown.

Bellefonte Bluffs is to be an eight-story highrise with 47 one- to three-bedroom condos along with lounge, community room, fitness and spa facilities, and private garage.

The condos will be the second phase of a $30 million residential and retail development by former Ashlander Fred Burns, now of Lexington.

The first phase of 214 upscale apartments is nearing completion, with several of the apartment buildings fully leased.

Property manager Christy Mays said price ranges hadn’t been set, but the condos are being marketed as luxury units in a gated community.

At the time of the groundbreaking in December 2005 of the apartment phase, Burns said the units would range between $300,000 and $500,000.

From the building site, residents will be able to see the entire downtown panorama, including the Ohio River and the twin bridges spanning it.

“It’s the highest point in the city,” Mays said.

Six of the nine Providence Hill apartment buildings have been completed and are fully occupied, Mays said.

The seventh, 24 one-bedroom apartments, is scheduled for completion by the end of October; by Thanksgiving the eighth building of 24 two-bedroom units is to be complete; and the last building, 24 two-bedroom units with river views, are to be ready for occupancy by mid-January, Mays said.

The final phase, a 60,000 to 90,000-square-foot upscale retail development, also hasn’t been started.

Burns bought the 55-acre property in 2004 for $700,000 from local resident Paul Sanders.

MIKE JAMES can be reached at mjames@dailyindependent.com or at (606) 326-2652.

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