Avila Real Estate and Hedgewood Homes plan to build a $350 million project in Avondale Estates that will add 789 new homes to the downtown grid.

The proposed development will feature a blend of apartments, townhouses and single-family homes for rent or sale at various price points. At an Oct. 8 meeting of the Avondale Estates Board of Mayor and Commissioners, developers expressed the desire to create a walkable neighborhood accessible to bikes, golf carts and pedestrians.

The project will span two plots. One is at City Park and Oak Street behind the Town Green. This 13-acre property will feature a mix of apartments and homes with public and private gardens throughout. Some home designs will include roof decks offering downtown views.

A second five-acre plot at College Avenue and Maple Street will be transformed into apartments and cottage-style homes.

“This exciting new community of high-end homes and luxury apartments is the exact type of development we have been targeting and working towards,” said Dave Deiters, chair of the Avondale Estates Downtown Development Authority. “Not only does it immediately revitalize key areas of our downtown, but it also brings new and different housing options which in turn will help us towards a more vibrant and walkable downtown. It will dramatically benefit our city’s finances and quality of life while bringing new customers to our local businesses. A true win/win scenario that is an investment in our city’s sustainable future.”

Avila Real Estate first entered the Atlanta real estate scene in 1986. Hedgewood Homes, also established in 1986, has built 4,000 homes and planned over 50 neighborhoods in Atlanta.