1405 Spring will replace the John Marshall Law School’s Blackburn Conference Center on the corner of Spring and 18th streets. Courtesy of JPX Works.

Work on a 31-story residential building in Midtown is beginning after the joint venture behind it secured full construction funding. 

The tower, 1405 Spring, will rise on a 0.54-acre lot on the corner of 18th and Spring streets, offering 326 units in 21 floors above a ground-level lobby, an eight-level parking garage and a full-level of resident amenities. The building will replace a vacant, single-story building that most recently housed the John Marshall Law School’s Blackburn Conference Center. 

Manulife Investment Management provided the full financing package to the sponsors, JPX Works of Atlanta and Zeller of Chicago. A JLL Capital Markets team led by senior managing director Ed Coco, managing director Matt Casey and Vice President Kelsey Bawcombe represented the borrowers. 

Residences in the tower will range from studios to luxury penthouses. The amenity level will include a pool, sundeck and covered outdoor lounge with firepits, fitness center, yoga and meditation studio and several indoor lounges and coworking spaces.

“JPX Works and Zeller are elevating the standard of architecture within Atlanta and will deliver a best-in-class product to complement and benefit from the continued job growth and in-migration from higher-cost metros into Atlanta,” Coco said in a press release. “With a core location in Midtown and a proven development team, Manulife Investment Management represents the ideal investment partner and long-term owner for this project.” 

The building’s 21 residential levels will sit atop a ground-level lobby, an eight-level parking garage and an amenity level. Courtesy of JPX Works.