RangeWater, ParkProperty launch construction of community in Capitol View

by John Yellig

Image courtesy of RangeWater Real Estate.

Investment partners RangeWater Real Estate and ParkProperty Capital kicked off a new multifamily development on Atlanta’s Beltline in the Capitol View neighborhood.

The 325-unit community is located at 1246 Allene Ave. SW and was previously home to the Exide Technologies battery plant. Completion is expected in late 2022.

“Developing along the Atlanta BeltLine continues to be a focus of ours, as it naturally connects our residents with their respective neighborhoods,” RangeWater President and CEO Steven Shores said in a press release. “Our team’s repeat investment in the Southside Trail truly aligns with our purpose of creating fulfilling experiences, encouraging a connectedness in those who choose to live with us. We look forward to delivering a multifamily community here in Capitol View that will add value for years to come.”

The project, to be called The Vivian, will have three-, four- and five-story buildings offering studio and one- and two-bedroom apartments. Amenities will include a dog park, club room, pool and fitness center.

Rents will start at $1,200 per month, and 20% of the community’s units will be priced at attainable rents, as required by Atlanta’s specifications for new BeltLine projects, RangeWater said.

“This will be our second investment in Atlanta and first along the Beltline trail, where we see a lot of opportunity in this historic but quickly revitalizing neighborhood,” ParkProperty Capital managing director Brendan Whalen said. “This is also the second investment through our discretionary fund platform that invests in similar development opportunities throughout the major markets in the U.S. Sunbelt, so this is an important milestone for ParkProperty Capital on multiple fronts.”

The Vivian is the third, ground-up project RangeWater is building along the BeltLine’s Southside trail. Its predecessors include Maverick, an apartment and townhome project at 72 Milton Ave., and Skylark, at 1099 Boulevard SE in Chosewood Park.

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