South Peak, the $200 million residential and commercial development atop a hill near Tanglewood Mall in Roanoke County, is gaining some steam.
Construction on a Hilton Garden Inn is expected to begin in February or March and the first building of five condos buildings is expected to be move-in ready by April 1st, according to Will Holmes, senior vice president of development and construction for developer Smith-Packett.
Smith-Packett has received approval from Hilton to build the Hilton Garden Inn, Holmes said. The five-story hotel will have 117 rooms, a restaurant and an indoor swimming pool.
At the very top of the hillside development the first condo building is well under way. The 100,000-square-foot building will house 32 condos that range in size from 800 to 2,600 square feet. When half of the condos in the first building are sold, Smith-Packett will start on the second building, Holmes said.
As of last month, Smith-Packet had accepted seven reservation deposits for condos, Holmes said. The condos range from $199,000 for a one bedroom to $569,900 for a three bedroom.
Smith-Packett also anticipates that it will soon begin paving streets and laying utilities on lots for 23 single-family homes that will sit on 12 acres of land behind Lowe’s. The homes will make up a gated community that Smith-Packett is calling The Estates at South Peak.
The second phase of the project will bring a restaurant and shops to South Peak. Holmes said Smith-Packett has received interest from several restaurants, but nothing is official. The retail piece will come later, after the hotel and condos are finished, Holmes said.
See a map of the development and read more about the project here.