HOBART – Bayland Buildings will start construction on a mixed-use building that will add more housing and retail space in Hobart’s Centennial Centre district .
Larsen Orchard Terrace will include 66 apartments plus first-floor retail/commercial space at the northeast corner of Larsen Orchard Parkway and Founders Terrace.
The 129,000-square-foot, four-story building represents the first of what could be two mixed-use buildings on 3-plus acres of village-owned land in the 500 block of Larsen Orchard Parkway.
If both buildings come to fruition, the project could have an estimated value of $15 million-$18 million.
The mixed-use building will be owned by Larson Orchard Apartments LLC, which includes several partners in the project. (Note, the spelling of the LLC’s name, Larson, and the street and apartment building’s names, Larsen, are different.)
Bayland Buildings will be a minority partner in the development, too, said Bayland Buildings CEO Chad Calmes, who also serves as Larson Orchard Apartments LLC’s managing partner.