A joint venture broke ground on a 239-townhome build-to-rent project set to rise on a 20-acre Stone Mountain parcel that was purchased from the Paideia School for $6.5 million in June 2021.
Avondale East will be located at 3940 Redan Road in Stone Mountain. Courtesy of Google Maps.
The joint venture includes developer Kaplan Residential, investor Dune Real Estate Partners and an affiliate of Brock Built Homes, which is serving as the general contractor.
Located at 3940 Redan Road, the development will be called Avondale East, and the first units are scheduled to open in summer 2023. The one-, two- and three-bedroom residences will come with personal garages and range from 1,050 to 1,613 square feet.
Community amenities will include an 8,000-square-foot clubhouse, fitness center, co-working space, lounge/socializing area, resort-style pool, walking trails, pocket parks and fire pits.
“In response to unparalleled rental demand throughout Atlanta and the Southeast, partnering with Dune Real Estate Partners allows us to usher an enhanced build-to-rent product to the market,” Kaplan Residential founder and President Morris Kaplan said in a press release. “Our firm was one of the first developers to introduce timely, vibrant build-to-rent concepts to metro Atlanta more than 20 years ago through Townhouse Atlanta, and Avondale East brings this evolution full circle.”
The community will be located near the Indian Creek MARTA station and the new Electric Owl Studios, which is under development.
Niles Bolton Associates is the architect, Focus Design is the interior decorator, and J Lancaster Associates Inc. Is the civil engineer.