Sold October 2023
Moretti at Vulcan Park is a 135-unit Class A workforce housing community located in Homewood, AL – a premier infill location of greater Birmingham. Completed in 2014, Moretti is in proximity to Downtown Homewood and Mountain Brook in one of the southeast's most affluent zip codes. This prime location places residents within Birmingham's best single-family neighborhoods and walking distance of many state-leading employers. Key employment generators located nearby include the University of Alabama Birmingham, St. Vincent Hospital, UAB Medicine, AT&T, Protective Life, Brookwood Baptist Medical Center, Grandview Medical Center, Southern Company, and Samford University. Moretti is zoned to Alabama's best public schools and is one of only two apartment communities built in Homewood since 1995.
Moretti at Vulcan Park, completed in 2005, consists of two three-story residential buildings, one clubhouse, six one-story garage buildings, and six detached garage buildings. The property offers one, two, and three-bedroom floor plans ranging from 668 square foot one bedroom, one bath plan to three bedrooms, and two bath plans at 1352 square feet. Community amenities include a spacious clubhouse, 24-hour fitness facility, saltwater swimming pool with sun deck, two cabanas, outdoor grilling stations, fire pit, 40 detached garages, 13 storage rentals, valet trash, cyber café, controlled access gates, car care center, and EV charging station. Interior unit amenities include granite countertops, 42" cabinets, wood-look flooring, island kitchens, double stainless steel sinks, walk-in closets, patio/balcony, faux wood blinds, kitchen pantry, and stand up showers.
Balfour Beatty Communities assumed management services at closing. ApexOne Multifamily Fund III, LP, purchased Moretti at Vulcan Park and will hold long-term to capture growth and appreciation.