South Fayette BUSINESS
Apartments set for Newbury South Fayette-based developer to build 416 units along Oak Ridge Road By Andrea Iglar More than a decade since Newbury first proposed apartments in South Fayette, a project is poised to materialize. Alpha Residential is developing Apex Newbury, a sixbuilding complex of 416 apartments on 37 acres spanning Oak Ridge Road. Site work began after a July groundbreaking. Opening is expected in 2025. Apex Newbury is the first project in South Fayette for Alpha Residential, a privately held investment firm based in the township’s Abele Business Park. Company founders Jide Famuagun and Lawunmi Famuagun are spouses who live in South Fayette with their two children. Several employees also live in the community. CEO Jide Famuagun said he invests in thriving areas where people care about each other. “The ability to do that in the neighborhood where we live and work was a big positive,” he said.
More than a decade ago, plans for the Newbury mixeduse project included 250 garden apartments in 11 three-story buildings—but that never happened. Famuagun said the apartments were redesigned to be economically viable. The 232 one-bedroom units and 184 two-bedroom units are geared toward younger professionals and older adults. Rent will start at $1,580 a month (subject to change). Units range from 737 square feet to 1,294 square feet—sizes less likely to attract families with children, Famuagun said. In the first phase of the project, two connected buildings on the north side of Oak Ridge will be built with 139 apartments. The second phase, to the south, will have four connected buildings with 277 units. A crosswalk will connect the two sides. A 2022 transportation impact study did not recommend any off-site road improvements in the area. The study predicted the apartments will generate 1,894 daily vehicle trips (947 cars in and out), with about 160 cars at the peak morning and evening times.
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▲ Jide Famuagun, left, and Lawunmi Famuagun, 10-year residents of South Fayette, hold shovels at a ceremonial groundbreaking in July for the Apex Newbury apartments along Oak Ridge Road. The couple's company Alpha Residential is developing the project. (Submitted photo) 24 |
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