ASHEVILLE, N.C. (828newsNOW) — A developer has submitted plans for a large, multi-phase apartment complex along Swannanoa River Road that would add more than 500 housing units to east Asheville in an area of the corridor that experienced flooding during Tropical Storm Helene.

The proposal, filed as a conditional zoning application, calls for a 549-unit multifamily development at 120 Swannanoa River Road near Britt Drive. The project spans seven parcels totaling about 8.55 acres and involves a vacant site, according to city records. The total site area involves nearly 36 acres, according to the proposal.

The project, as proposed by Atlanta-based applicant CML SRR LLC, would be built in three phases. The first phase calls for a 300-unit building. The second phase would add two buildings totaling 170 units. The final phase would complete the project with a 79-unit building. Plans call for the residential unites to be built on top of podium parking structures. The project would require new utility, stormwater and street infrastructure.

The project carries an estimated construction value of $75 million.

The registered agent for CML SRR LLC is Asheville real estate attorney Jason Peltz. We’ve reached out and left a phone message requesting more information.

The development application documents were prepared by 360 Studio Landscape Architecture, Planners & Engineers Collaborative and Axis Infrastructure, which are all Georgia-based companies.

A neighborhood meeting was held June 10, with pre-application review completed in February. The project’s initial review with city development officials, known as the Technical Review Committee, is scheduled for July 20.

Notes from the neighborhood meeting include the following:

• Existing zoning includes multiple zoning districts that would be consolidated through a conditional zoning process.
• Much of the previously developed portion of the site was impacted by flooding and storm damage.
• A creek (Ross Creek) runs through the site before joining the Swannanoa River.
• Retention of significant portions of existing wooded areas, particularly adjacent to Kenilworth.
• A traffic impact study is underway.
• Flood mitigation is a major focus of ongoing engineering review; a flood study is currently underway and FEMA floodplain data is being used in project analysis.
• Floodplain compensation areas are being evaluated to offset impacts from development.
• Underground stormwater detention systems are proposed to: store stormwater during rain events, slow the release of runoff and reduce impacts on downstream properties.

City records show the site includes floodplain and aquatic buffer areas and is zoned RS8 and River District. About 22 percent of the development is planned as open space.

City staff notes state that required infrastructure — including landscaping, sidewalks, curbing and stormwater controls — must be completed before a temporary certificate of occupancy can be issued, or a bond will be required.

This story was written and reported in partnership with Ashvegas Editor Jason Sandford.