While some developers are shying away from building new apartments, AMLI has doubled-down on the Atlanta rental market.
The apartment giant is planning to break ground on two projects — one in Decatur and another at Atlantic Station — sometime this year. BisNow reports that the company can move forward, even as lenders are becoming wary of overbuilding, thanks to self-financing.
In Decatur, AMLI plans to bring 325 units to a lot near Decatur High School. The project, which is part of a large mixed-use development by Cousins Properties, has shrunk slightly in scale from when it was first announced years ago. But with 20,000 square feet of retail space and 5,000 square feet of offices in the mix, the development will bring a slew of live-work-play space to downtown Decatur's southwestern flank.
Meanwhile, in Atlantic Station, plans are still in the works for a development to fill a 2.3-acre site that AMLI purchased back in March. According to the Atlanta Business Chronicle, the $10.5-million acquisition puts the BB&T Atlanta Open at risk of losing its home next to Dillards on the north side of Atlanta's biggest boomtown. No specifics are available on exactly what AMLI is planning.
- AMLI To Build Two Communities Despite Growing Concerns [BisNow]
- AMLI buys key Atlantic Station property, site of tournament [Atlanta Business Chronicle]