A newly created, Atlanta-focused multifamily investment firm recently broke ground on a 210-unit, class-A community at the site of the former Atlanta Food Truck Park on the Upper Westside.
The Howell, as the development will be known, is located at 1850 Howell Mill Road. It will have one-, two- and three-bedroom apartments, as well as coworking and retail or food-and-beverage space when it opens in early 2024.
The company behind the project, SHR Residential, is a recently formed subsidiary of Songy Highroads, an Atlanta-based real estate development and investment firm. It was created to acquire and develop multifamily real estate in the Atlanta area.
“SHR Resi” has been active in its first year of operation, having purchased the Arlowe Townhomes in The Battery/Cumberland Galleria submarket and two apartment projects at Colliers Avenue and Defoors Road on the Upper Westside. It also purchased and redeveloped the 370-unit Biscayne Apartments community in College Park.
“We are enthused to capitalize SHR Resi and we believe that recent market imbalances and pricing disparities create compelling opportunities for experienced and knowledgeable investors,” Chairman Marvin Banks Jr. said in a press release.
The Howell was designed by Cooper Carry architects, and SHR Resi’s capital partner on the project is Walton Street Capital, while construction financing is provided by Ameris Bank. Reeves Young is the general contractor, and Rivers Residential will serve as project manager.