MELBOURNE APARTMENTS PHASE III IN DES MOINES CELEBRATES GRAND OPENING AT 100 PERCENT OCCUPANCY
West Des Moines, IA (November 14, 2014) – Melbourne Apartments celebrated the grand opening of the third phase of apartments Wednesday with a ribbon cutting ceremony. The 72-unit, $9.2 million expansion at the Hubbell Realty Company apartment community is 100 percent leased and occupied. Melbourne Apartments Phase III welcomed its first residents in October.
“We are thrilled with the growth this apartment community has experienced over the years,” explained Rick Tollakson, President and CEO at Hubbell Realty Company. “The lease up proves we are building communities that are desired, and needed, not only in Des Moines, but throughout the metro area.”
Melbourne Apartments first opened in 2011 with a community clubhouse and 84 affordable one, two and three bedroom apartment homes within three buildings. A second development phase in 2013 added 62 more apartments within two buildings. Phase III brings an additional 72 apartment homes to the community as well as a third fitness center that showcases strength training as well as cardio. Each apartment features in-unit washers/dryers, designer appliances, private patios and spacious closets. Residents enjoy state-of-the-art amenities including 24-hour fitness centers, business centers, splash pad and grilling/picnic area.
The Iowa Finance Authority partnered with Hubbell Realty Company to make Melbourne Apartments a reality. “Every new project constructed results in income for Iowa residents through jobs created, taxes and other revenue for the state and local governments,” explained Carolann Jensen, Chief Administration Officer for Iowa Finance Authority.
Melbourne Apartments Phase III was built by Hubbell Construction Services and is managed by Hubbell Apartment Living. For more information, call 515.953.5509 or visit www.hubbellapartments.com.