From the Ground Up: Latoka Flats

Owner/developer: C. Arch Bay Co.
General contractor: Ross Construction Group LLC
Architect: H Design Group LLC
Engineers: Lee Engineering and Associates LLC, civil; Bergmann Engineering Co. LLC, structural; CJD Engineering LLC, mechanical, electrical and plumbing
Size: 11,832 square feet
Estimated cost: $1.7 million
Lender: Springfield First Community Bank
Estimated completion: January 2019
Project description: C. Arch Bay Co. is growing its multifamily residential portfolio with a two-building, 16-unit complex across National Avenue from Mercy Hospital Springfield. Bart Tacke, president of the real estate development and management company, said the site was selected because of its proximity to the medical campus as well as Missouri State University. “We’ve got some other properties around that immediate area,” he said. “We’re seeing the growth and revitalization of that area. The multifamily dimension over there hasn’t been done in awhile.” Crews first had to demolish six residences on the north and south sides of Latoka. The roughly 5,900-square-foot apartment buildings are on each side of the street, facing each other. Tacke said Latoka Flats lease rates are set at $750 for studios and $900 for one-bedroom units.