Highlands Residential Services (HRS) opened bids on Tuesday for the Oak Tree Towers project.
King Construction of Cookeville submitted the $8,978,000 low bid for constructing the 50-unit mid-rise apartment complex. HRS Director of Operations Chris Cassetty said board members will look to approve that bid during Thursday’s meeting.
“Once we do that, we’ll sit down and have a formal pre-construction meeting with King,” Cassetty said. “Quite frankly, hopefully we’re ready to break ground in early March if the weather permits.”
Cassetty said a total of four general contractors submitted bids for the project.
“The highest bid was $12,099,000,” Cassetty said. “We had about a $3 million spread in the four bids.”
The future Buffalo Valley Road development will provide housing for senior citizens with limited incomes. The HRS Board of Directors will meet Thursday at Noon.