JOHNSON CITY, Tenn. -

A North Carolina developer has plans to make new apartments across from East Tennessee State University.

Charlotte, NC-based Monarch Ventures purchased land where the old Mullican factory currently stands across from ETSU’s campus.

We talked to the company CEO and she tells us there are plans for a 576-bedroom facility she’s calling 'luxury apartments'. We’re told the apartments will include private bathrooms, walk-in closets, a fitness center and pool.

The goal is to have the new apartment complex open by fall 2014.