The developers of a proposed apartment community at Hayes have decided not to move forward with the project at this time.
Robert L. Freeman Jr., managing partner of York River Crossing Associates, LLC, said that bids for the construction came back “substantially over our estimated construction costs and much higher than comparable projects that have been recently built in the area.” Therefore, the developers have decided to “table the project for 18 to 24 months and then reassess the marketplace for construction costs and rents.”
Freeman and his partners want to build more than 100 units, both garden and townhouse apartments, adjacent and to the south of York River Crossing Shopping Center on Route 17, Hayes.
In making the decision not to build the units at this time, Freeman said that they could have “made substantial cost reductions” in the construction, but that “would have reduced the quality to a point very much lower than our standard ...
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