Brandishing several unique facets, a new Atlanta Beltline-adjacent rental community is officially moving forward south of downtown, and developers predict it will “set the tone” for future projects in Chosewood Park.
Officials with Pollack Shores Real Estate Group, a multifamily developer and investment firm, announced today they’ve closed on land that’s set to become 319 Class A apartments along the Beltline’s future Southside Trail, a corridor the city purchased earlier this year.
Developers expect to break ground next month and starting delivering the rentals—alongside 15,000 square feet of retail and office space—in the fall of 2019. It would mark one of the first completed projects on the forthcoming, 4.5-mile grin of Beltline trail.
The 1099 Boulevard SE site, largely vacant today, is a few blocks south of Grant Park’s main green space and directly east of The Beacon district, along the rail loop. In a press release, developers relayed that “officials” expect that Beltline stretch to be construction by 2023, linking the Eastside and Westside trails.
In coming months, the cleared corridor is expected to open as an unpaved jogging and biking trail.
“There is significant demand for new multifamily product on the next leg of the Atlanta Beltline, which is a proven catalyst for economic growth and development,” relayed Steven Shores, Pollack Shores Real Estate Group’s president and CEO, in the release.
The site, as officials noted, offers one of the last remaining street-level Beltline crossings and the promise of being a future transit stop. Accordingly, about 50 units are being designed to offer trail-front views.
Speaking of units, the community will offer rare micro rentals (500 square feet) in an effort to keep rents lower and “appeal to a variety of residents and [create] a new model for diversity,” per the release.
Another cost-cutting measure: The project will not include a parking deck.
The largest flats, meanwhile, are expected to offer three bedrooms across two levels with north of 1,500 square feet. Potential rents weren’t specified.
Beyond the apartments, expect amenities that echo other Class A ventures across the city: a community clubhouse, fitness center with CrossFit and yoga studios, and a pool-lounge area dotted with grills.
“Old Fourth Ward became a success story in large part because of the Beltline, and we see the same potential for this new neighborhood,” added Tyler Gaines, Pollack Shores vice president of development. “There are no comparable rents in this area, so we have the opportunity to offer affordable micro units that address existing market demand, as well as larger three-bedroom options.”