The Moretti
The Moretti at Vulcan Park is a 135-unit luxury apartment complex located on a 4.6-acre site at Moretti Circle off Valley Avenue near Vulcan Park, on the former site of Hillside Circle Apartments. It is named in honor of Vulcan's sculptor, Giuseppe Moretti.
The project was developed for $17 million by Dobbins Group and opened in 2014, managed by Arlington Properties. Initial rents ranged from $900 to $2,300 per month for 1-to-3-bedroom units. The apartments feature hardwood flooring, granite countertops, kitchen islands, walk-in closets, balconies and laundry equipment. The complex includes a salt-water swimming pool with leasable cabanas, a clubhouse, fire pit, picnic and grilling areas, a fitness center, walking trails, conference room, and an electric vehicle charging station.
The complex was sold to the Ramsey, New Jersey-based Raia Capital Management in 2015 for $24.6 million. ApexOne Investment Partners of Houston, Texas acquired the property in 2020 for $31 million. They sold it to an affiliated of Hessler Financial of Kennesaw, Georgia for $36.4 million in 2023.
References
- Tomberlin, Michael (May 25, 2014) "$17 million apartment project completes construction near Birmingham's Vulcan." The Birmingham News
- Davis, Bryan (January 5, 2015) "The Moretti at Vulcan Park fetches $24 million in sale." Birmingham Business Journal
- Van der Bijl, Hanno (May 29, 2020) "Luxury apartment community by Vulcan sells for $31M." Birmingham Business Journal
- Parker, Illyshia (October 4, 2023) "Luxury apartment complex acquired for $36.4 million." Birmingham Business Journal
External links
- The Moretti website