Inventory Intel
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A developer is building a 186-apartment community where Reid’s Body Shop stood for more than 60 years.
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The 294-unit community is within walking distance of Sugar Hill’s new E-Center, a 150,000-square-foot mixed-use facility in the city’s central business district.
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The Monroe apartment community encompasses 217 units and is located on the Northside BeltLine and Bobby Jones Golf Club.
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The Cove at Covington Town Center, as the apartments will be called, is one component of the overall mixed-use development, which will also include townhomes, a movie theater, Publix supermarket, office space and hotels.
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The 16-story tower is home to the iconic “Atlanta’s Population Now” sign and sits across from Piedmont Hospital.
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The Toronto homebuilder is behind at least 11 for-sale developments in the city and Alpharetta.
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Financial details were not disclosed, but the 9-acre property, located at 1185 Collier Road NW, was valued at $59 million in its latest assessment.
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The developer, Terwilliger Pappas, sold the property to Atlanta-based White Oak Partners.
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The luxury apartment building’s first units are expected to be delivered in June 2024.
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The homebuilder recently acquired 146 acres in Jackson County, where it plans to develop the Liberty Crossing community.
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The local investor has completed more than $225 million worth of Atlanta apartment transactions since June 2021.
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The new downtown development will bring 226 apartments to a 6.6-acre site.
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The Howell, as the community will be known, is located at 1950 Howell Mill Road.
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The Atlanta-based developer plans to break ground this month on 50 recently acquired acres.
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ECI Group has been busy recycling assets in the Atlanta area recently, with the groundbreaking of new communities and sales of existing ones.
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The first of the six-phase strategy covers about 40 acres for 78 new lots in the Edenwood master-planned community.