Atlanta real estate developers and former Terwilliger Pappas executives Greg Power and Mike Handza launched a new multifamily firm, Imperium Development. It will focus on building apartments in “high barrier-to-entry, supply-constrained” markets in the Southeast and Sunbelt. 

Imperium is currently developing two class A garden-apartment communities in Georgia: the 240-unit Walker’s Ridge Apartments in Cartersville and the 300-unti South Davis Apartments in LaGrange. The communities, which are expected to open next year, will have a mix of one-, two- and three-bedroom floorplans with high-end finishes and amenities, Imperium said in a press release. 

At Terwilliger Pappas, Power served as executive vice president and was responsible for multifamily and mixed-use projects, while Hanza served as vice president of construction. Together, the executives have 30 years of development experience and have managed the construction of more than 11,000 apartment units and $1.6 billion of projects in the Southeast and Mid-Atlantic. 

“Greg and I are like-minded individuals who are aligned on creating a best-in-class multifamily development firm that prioritizes accountability, integrity and relationships,” Handza said. “We have learned from the best what it takes to establish trust among partners, investors, tenants and communities and are committed to doing everything we can to produce favorable outcomes and strong risk-adjusted returns.” 

Imperium is chaired by construction veteran William Sandbrook, who served as president and CEO of U.S. Concrete until he retired in 2020.