Less than a year after selling three Battery Atlanta apartment communities it developed in partnership with the Atlanta Braves, Pollack Shores is looking to return to the Cumberland market with a similar development.
The company announced it closed on land where it will build a new 281-unit apartment community on the site of the former Genuine Parts Company headquarters.
The five-story building will be constructed on Herodian Way between Circle 75 Parkway and Crescent Parkway, which is less than a mile from The Battery Atlanta, the popular mixed-use destination anchored by SunTrust Park.
“The Genuine Parts site is a prime investment opportunity that capitalizes on growing demand for Class A product fueled by the success of The Battery Atlanta and exceptional job growth in Cumberland,” Pollack Shores President and CEO Steven Shores said in a statement. “We will draw on our past experience at The Battery Atlanta to create another innovative and walkable community that delivers a first-class experience for residents who seek an authentic live-work-play lifestyle in one of metro Atlanta’s most exciting locations.”
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Residents can choose among one-, two- and three-bedroom units that range from 700 to more than 1,400 square feet. Amenities include a plank flooring, stainless steel appliances, granite counter tops, pool courtyard, indoor and outdoor sky lounge, two-story leasing center, fitness center, clubhouse and a courtyard area with a pool. Pollack Shores said it will break ground this month, with the first units units opening in early 2021.
Pollack Shores in 2018 sold its three apartment communities it built in partnership with the Atlanta Braves to multifamily real estate firm Cortland. Those communities, collectively known as "Home at The Battery Atlanta," were renamed to Cortland at The Battery Atlanta. The sale price of $293,000 per unit was lower than what Pollack Shores had expected.
The new apartments is the latest announcement of new activity around The Battery Atlanta. Thyssenkrupp started construction this year on its new North American headquarters at The Battery. That project is expected to open in 2021.
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