Canton green lights 300-unit apartment complex, largest in Haywood

May 1—CANTON — Canton leaders have enthusiastically cleared the way for Canton Investors, LLC to build the largest apartment complex in the Haywood County.

Haywood native Michael Parrot first proposed an apartment/retail complex on property just off Interstate 40 two years ago. His updated proposal now includes 300 units as opposed to the 160-unit facility initially proposed. The earlier proposal also included space for retail stores and service providers, something that was scrapped when the focus was expanded to additional units.

"This will be the largest multi-family development in the history of Haywood County, larger than anything ever in Waynesville," said Byron Hickox, Canton's planning director, in introducing the project.

Average rental prices will range between $1,482 for one-bedroom, one-bath units and $2,160 for three-bedroom, two-bath units. By comparison, other multi-family units in Canton charge from $850 to $1,100 per month in rent, according to the materials provided in Parrott's proposal. Newer apartments in other parts of Haywood County ask for monthly rental rates beginning at $1,500, the proposal states.

The development will pay tribute to the farming heritage of the property where the Robinson family operated a livestock market for decades.

All units will be bricked wood with natural colors, and there will be an open green space and a barn-inspired clubhouse with picnic units and grills.

Canton units to double

There are currently 141 multi-family rentals in Canton, with five of the six complexes built before 1965. That means the proposed Robinson Ridge Apartments will more than triple the number of rentals in the community.

The project was approved by the Canton planning board members last month. Thursday, town leaders cleared the final hurdle by authorizing annexation.

Canton Mayor Zeb Smathers was quick to state the annexation only included the Parrott property, where there will be 12 residential housing buildings, none higher than three stories. The development will include 15 acres of green space and 525 parking spaces.

Thirteen different properties were purchased and combined into a 36-acre parcel, Hickox said.

Parrott told the board the company planned to use local and regional service providers and contractors and said the first phase of the development with 152 units would be finished by the end of 2025. The second phase is to be complete by 2027.

Parrot is one of the few developers that has been able to get permission from Pactiv Evergreen to use the company's wastewater treatment system. Other approved developments have yet to cross that bridge. Pactiv, which shut down its pulp and paper mill in Canton last year, plans to turn over the wastewater treatment system to Canton in 2025.

Economic value

The approval of Robinson Ridge Apartments was a ray of sunshine in a Canton board meeting filled with dire warnings about severe budget cuts and revenue loss of up to $1 million from the closure of the mill.

The project proposal lists the total capital investment at $60 million and estimates the total property tax revenue at $475,000 annually, with sales tax revenue at $250,000 annually.

The sales tax estimate is based on $9.7 million in increased consumer spending attributable to the new complex where half the occupants are expected to move in from outside the county.

A traffic analysis completed by the N.C. Department of Transportation analyzed trips on the Livestock Market Drive main entrance off Champion Drive, as well as access points off Crossroad Hill, just pass Ingles, and a back entrance on North Canton Drive, Parrott said.

All suggested upgrades were minor and will be part of the building plan, he added.

Local enthusiasm

The Canton governing board was clearly impressed with the proposal.

"What matters to me is not so much the quantity, but the quality you have here," Smathers told Parrott and his partners. "This is the first housing project that has come before us, but it will not be the last. This is one of the most impactful, beautiful programs we've seen. This is the gold standard, and we commend you all."

Parrott is the founder of Mill Ridge Properties, a Pisgah High School graduate and has formed Canton Investors, LLC, along with Hingson and Young families of HVY holdings.

"Canton Investors' #1 goal is to partner with the town of Canton and continue ushering prosperity in Michael's hometown, as well as the greater Western North Carolina region," the presentation document states.