A joint venture between the homebuilder and asset manager secured a $96 million construction loan facility from Wells Fargo Bank to cover development of the 376-unit property.

A plan to build 11 single-family detached homes has been approved by the Alpharetta City Council, while a proposal for 24 condominiums has been approved by the city’s planning commission.

The tower’s residences will comprise a mix of traditional apartments and “rent-by-bedroom” co-living units. Delivery is slated for first quarter 2024.

Today’s condo environment is a far cry from the first days of the pandemic, when people were told to stay home and stay away from one another. 

The seasonally adjusted estimate of new houses for sale at the end of July was 378,000, representing a supply of 6.1 months at the current sales rate.

A rezoning application to allow for the development of the community was recently approved by the Gwinnett County Planning Commission, with conditions.

Atlanta-based developer JPX Works plans to raise a 31-story building at 1405 Spring St., according to a proposal presented to the Midtown Development Review Committee.

Traton Homes will launch its Florida operations in Bay and Walton counties this year and plans to focus on the Panhandle region.

The communities are the Flats at Mt. Zion, a 210-unit apartment community aimed at families with children who attend Mt. Zion elementary and primary schools, and the Villas at Mt. Zion, a 96-unit independent-living property for residents 55 years old and older.

“The bright spot in an otherwise underwhelming report comes from the increase in the overall number of permits issued, which can signal how much home construction is in the pipeline.” — First American deputy chief economist Odeta Kushi