Georgia

Exterior shot of the pool of Verge Atlanta, a new development by Fairfield

Fairfield Opens 319-Unit Atlanta BeltLine Project

by Lynn Peisner February 23, 2023

ATLANTA — Fairfield has completed Verge, a 319-unit, partially affordable project along the southside corridor of the BeltLine, a 22-mile loop in Atlanta’s urban core. The project is located between the Peoplestown and Chosewood Park neighborhoods. Atlanta BeltLine Inc. (ABI), an economic development group, pairs developers with public and private partners to ensure multifamily projects constructed in the BeltLine Tax Allocation District (TAD) include affordable units. San Diego-based Fairfield acquired the land for the site in 2019, according to Curbed Atlanta. The developer did not release rent restrictions on the …

February 23, 2023

Affordable Housing Development Georgia Investment Sales News Southeast

City of Atlanta Acquires $39 Million Office Tower for Housing Conversion

by Lynn Peisner February 17, 2023

ATLANTA — The city of Atlanta has completed its $39 million purchase of 2 Peachtree Street, a 41-story office tower in downtown Atlanta that was built in 1966. The city’s economic development agency, Invest Atlanta, purchased the 1-million-square-foot building and will hold it until a redevelopment partner is selected. The acquisition was funded through allocations from the Eastside Tax Allocation District. Invest Atlanta will select a development partner, following a request-for-proposals process, by the end of 2023, with the goal of beginning construction in 2024. The number of units or …

February 17, 2023

A facade rendering of Diamond College Park, a new affordable community south of Atlanta

Affordable Housing Development Georgia News Southeast

Tapestry Development Group, Swinerton Break Ground on Affordable Project Near Atlanta

by Lynn Peisner February 14, 2023

COLLEGE PARK, GA. — Tapestry Development Group, along with construction partner Swinerton, has broken ground on Diamond College Park, about 10 miles south of Atlanta. The 60-unit, 79,000-square-foot property will include 26 one-bedroom and 34 two-bedroom units. Ten apartments will rent at market rates, 22 of the units will be capped at 50 percent of area median income (AMI), and the remaining 28 units will rent to tenants earning 60 percent or less of AMI. Good Places, which is an Atlanta-based development firm that focuses on adaptive-reuse affordable housing, is …

February 14, 2023

Development Georgia News Southeast

Geosam Capital to Develop Mixed-Use Project Near Atlanta with 7,000 Units

by Lynn Peisner February 7, 2023

HAMPTON, GA. — Geosam Capital, a Florida-based investment firm and developer, will break ground in 2024 on The Grove, a 1,280-acre, mixed-use project in Hampton, about 36 miles south of Atlanta. The Grove will include approximately 7,000 residential units, ranging from multifamily complexes to single-family units and townhomes. A project cost and estimated completion date were not disclosed. Geosam has retained NELSON Worldwide and Falcon Design Consultants for land planning and civil engineering, Taylor English Duma and Hilliard Starkey Law for legal counsel and NV5 for traffic planning and engineering. …

February 7, 2023

A 3D render of Penler Cherokee, a single-story grey and brown building with a black roof and brown wood pillars.

Development Georgia News Southeast

Penler, Mcshane Construction Break Ground On 192-Unit Project Near Atlanta

by Channing Hamilton January 31, 2023

ACWORTH, GA. — Penler has broken ground on Penler Cherokee, a 192-unit project in Acworth, located approximately 35 miles northwest of Atlanta. McShane Construction Co. is the contractor, which also recently completed The Parker, a 240-unit community in nearby Dawsonville, Georgia, for Penler. The new Acworth apartments will be constructed within eight two-story, garden-style buildings. Amenities will include a clubhouse, fitness center, pool and private garages for residents. The architect for the project is Dynamik Design. Penler Cherokee is slated for completion in August 2024.

January 31, 2023

Cameron Run, a two-story multifamily building. The first floor is brick, and the second is pale yellow wood.

Georgia Investment Sales News Southeast

Crown Bay Group Acquires Cameron Run in Atlanta for $35 Million

by Channing Hamilton January 31, 2023

ATLANTA — Locally based Crown Bay Group has acquired Cameron Run in southwest Atlanta for $35 million from an undisclosed seller in an off-market transaction. The 284-unit property was built in approximately 1972 and was 93 percent occupied at the time of sale. Amenities include a recently renovated fitness center, a playground, artificial-turf sports field and a dog park. Units are offered with one, two or three bedrooms.

January 31, 2023

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