321 New Apartments and Retail Space Planned in Atlanta

News Summary

A new development called Urba ATL is set to bring 321 apartments and 30,000 square feet of retail space to Midtown Atlanta’s Westside neighborhood. Starting construction this spring, the project represents a $90 million investment aimed at enhancing the local community. Features include coworking spaces, a rooftop pool, and a dog park, contributing to the area’s vibrancy and convenience. The developer has opted for a responsible funding approach, already completing initial parking structures and negotiating further financing.

Exciting Development in Atlanta: 321 Apartments and Retail Space Coming Soon!

Atlanta residents, get ready! There’s some buzz in the air as an Augusta-based developer gears up to kick off construction on not one, but two mid-rise buildings, which will house a whopping 321 apartments along with ground-floor retail space. This fantastic opportunity is just around the corner in the bustling Midtown Atlanta’s Westside neighborhood!

Welcome to Urba ATL!

The project, charmingly named Urba ATL, is set to rise on a sprawling 7-acre site located at 480 17th St.. Construction is slated to begin as soon as the spring weather makes an appearance, making it the perfect time to get this exciting venture rolling. Last month, the developer completed two parking decks, forming the first phase of the construction process. So, you can already see that steps are being taken to make this vision a reality!

Total Project Investment

The total cost of bringing this eclectic mix of apartments and retail spaces to life is pegged at an impressive $90 million. That’s a significant investment that speaks volumes about the developer’s commitment to enhancing the Midtown area!

What’s Changing?

Previously, the plans included a well-known Kroger grocery store anchoring the mixed-use project in collaboration with another company. However, in a surprising twist, Kroger decided to stick with its existing store location and sold the land to the developer for $10.9 million back in 2021. As a result, adjustments were necessary, including a redesign and variance requests to meet the new project goals. But fear not, the future of Urba ATL is looking bright!

What’s in Store for Residents?

For those curious about what the development will provide, brace yourselves for an array of stellar amenities! Urba ATL will feature close to 30,000 square feet of retail space right on the ground floor, perfect for shops and eateries. But that’s just the beginning—residents can look forward to an enticing assortment of facilities, including:

Coworking spaces for work-from-home flexibility
An outdoor zen and activity garden for relaxation
A cozy library for book lovers and study sessions
An exhilarating e-sports gaming room and lounge
A furry-friend-friendly dog park
A well-equipped gym for fitness enthusiasts
A stunning rooftop pool and clubroom to enjoy those sun-soaked days!

Funding and Future Prospects

The developer has been quite wise, opting to self-fund the groundwork so far, which allows them to hold off on construction until conditions are just right. Currently, they are in discussions regarding a construction loan while being careful to fully grasp the current construction costs before solidifying plans for a mortgage. It’s a methodical approach that illustrates a commitment to handling this project responsibly.

Southeastern, the key player behind Urba ATL, isn’t a stranger to multifamily developments; they’ve successfully completed other projects such as Urba Arlington in Virginia, The Hammocks at Long Point in Savannah, and One Riverside in Chattanooga, Tennessee. With such a strong portfolio, the local community can feel optimistic about what Urba ATL will ultimately bring to the vibrant Midtown Atlanta area.

Conclusion

As construction prepares to take flight, Atlanta is ready to welcome a fresh wave of living spaces and retail opportunities that promise to energize the Midtown community! From chic apartments to exciting amenities, Urba ATL seems like a win-win situation for future residents and local businesses alike. Stay tuned, Atlanta—exciting times are ahead!