A developer plans to transform a car body shop into 186 apartments in Reynoldstown, roughly a block away from the Beltline.
Toro Development Company announced it purchased Reid’s Body Shop at 952 Memorial Drive, which recently closed after more than 60 years of fixing vehicles. The developer plans to build The Reid, an apartment community named after the former auto shop.
“Our family has been an active part of the community for a long time, and we are glad the new owners care about the history of the property,” Robert Reid, the shop’s longtime owner, said in a news release. “We are excited to see this become a great new place for people to live.”
The Reid family placed the 1.6-acre property for sale last year. The sale price was not disclosed, but the land and building is worth $763,500, according to Fulton County property records. Toro said it will incorporate items from the auto shop as part of the apartment complex’s design.
Credit: Google Maps
Credit: Google Maps
The Reid will include a mixture of studios, one- and two-bedroom units in addition to a rooftop pool. Toro said 15% of the units will be reserved for tenants who make less than 80% of the area median income (AMI) — $54,000 for an individual in Atlanta.
This is Toro’s fourth multifamily project along the Beltline, and the company announced its first mixed-use project last month — the redevelopment of State Farm’s vacant 40-plus-acre campus in Johns Creek.
Construction is expected to start at the beginning of 2023, and the first units should be available to rent by the third quarter of 2024.
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