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Gemstar Homes hopes to replicate the success of its Hilliard condominium project in the New Albany area.
Gemstar, a division of SAR Cos., broke ground in mid-September on its 12-acre, 124-unit New Albany Village Condominium project on Route 161 east of Hamilton Road. The first units of the $15 million project will become available for occupancy in early spring.
Cost of the two-bedroom traits start at $117,500 with the three-bedroom units topping off at $129,000.
"This is the first affordable, luxury multifamily development within the New Albany School District," said Scott A. Rubin, SAR president. "We think this could lead to the recognition that there's a …