2 minute read
REAL ESTATE BRIEFS
Developer Lincoln Ventures has proposed a 31-story student housing project with street level retail at 859 Spring Street at Tech Square in Midtown. The tower, which would feature 195 furnished co-living spaces, two amenity levels, and five floors of parking, would sit on less than an acre at Spring and Abercrombie Place. The Midtown Development Review Committee recommended treatment of the parking deck with screening to mitigate noise and light that could emanate from the garage, as well as reaching out to residents in MidCity Lofts across the street to ensure that design concerns and construction issues are addressed in a timely manner.
Commercial real estate firm Beacon Real Estate Group and a fund managed by Westport Capital Partners have completed the acquisition in Atlanta with the purchase of the newly built Accent 2050 to be renamed to 2050 Morningside. The 198-unit complex is Beacon’s third multifamily investment in Georgia over the last 90 days.
Atlanta real estate investment firm Parkland Communities Inc. recently launched its Small Builder Program focused on local builders who construct 100 or less homes a year. “We are excited to launch our Small Builder Program designed to develop lots for Atlanta’s hometown builders,” Parkland Communities President Jim Jacobi said. “The legacy recession lots are long gone, and most small home builders don’t have the time or resources to navigate the complexities of entitlements and development required to produce new lots today.” The Small Builder Program is a joint venture structure where Parkland will fully subordinate developed lots to the home builder’s construction loan. This will, in effect, work to keep the small builders in business since no equity will be required. By subordinating lots to the construction loan, builders can do what they do best, build homes. When the home sells, Parkland Communities and the home builder will split the profits evenly. For more information, visit ParklandCo.com.
Engel & Völkers Atlanta announces the firm will act as the brokerage to manage sales and marketing at JW Collection properties, including The Heritage on Memorial, Enclave on Collier, Abbington at Wildwood, Paces View and Enclave at Dunwoody Park. Engel & Völkers Atlanta also handles sales for One Museum Place, a John Wieland condominium community in Midtown. For more information, visit evatlanta.com.
►Aaron’s Holdings Company has made a donation of $10,000 to the Westside Future Fund, an initiative that provides affordable housing in one of Atlanta’s most impoverished communities. Specifically targeting the neighborhoods of English Avenue, Vine City, Ashview Heights and the Atlanta University Center, the urgent need comes as 52% of residents currently live below the poverty line and 40% of all housing is vacant. The contribution from Aaron’s was facilitated by Aaron’s Black Leadership Exchange (ABLE), an internal committee formed in 2019 to exchange information and ideas that create a path for personal and professional development of Black team members, while strengthening connections with customers and others in the community.
Minerva Homes has opened the model home at Towns at Kendrick in Brookhaven for tours by appointment. The luxury townhomes are priced from the low $700,000s and feature front porches, gourmet kitchens, fireplaces, owner’s suite with spa-like bath, garages, and more. Visit Minerva-Homes.com for more information.
Alexan Eight West has welcomed its first residents to its studio, one and two-bedroom apartments near Westside Provisions District and Georgia Tech. The complex offers a rooftop terrace, skyline view, saltwater pool, and proximity to popular restaurants and the Midtown art scene. For leasing information or to schedule a tour, visit alexaneightwest.com.
The Brightstar Team | COMPASS has opened the model home for its latest development, The Row on Wylie. This community of five townhomes from Foyer Urban Builders is nestled between Reynoldstown and Edgewood with prices in the $400,000s. The team has also reached a sales milestone at another nearby development, Pontiac Place in South Ormewood Park. The neighborhood of 25 single-family homes by O’Dwyer Homes is 50 percent sold out. Homes are priced in the high $300,000s. For details visit the rowonwiley. com or OwnPontiac.com.
