Denver-based real estate development and property management company Simpson Group have partnered with Atlanta-based Novare Group and two Kajima USA sister companies, Batson-Cook Development Company and Flournoy Construction Group to develop a new 325-unit luxury apartment and townhome community adjacent to the Chatahoochee River near the Galleria. According to announcement yesterday, September 9th, the joint venture has broken ground, with expected completion in the third quarter of 2023.
The project will include studios, one, two and three-bedroom residences throughout, and both the townhomes and apartments will have access to a luxury clubhouse, a co-working area, resort-style swimming pool, two enclosed courtyards linked by a covered outdoor area, bike storage, and a dog park. However, the top amenity is undoubtedly the unfettered access to the Chattahoochee National Recreation Area just steps from the community. The recreation area is accessible via the Rottenwood Creek Trail, which also connects to the Chattahoochee River Trail, the Mountain to River Trail, and a number of commercial and recreational destinations in the area.
Mark Peppercorn, Senior Vice President, Investments of Simpson Housing, said in a statement that “our 25 year commitment to the Atlanta area and our team’s dynamic working relationship with Novare Group and Batson-Cook Development Company over six major projects, as well as the well located and well conceived vision for this community were all factors that led us to commit to this joint venture. We are pleased to see it move forward.”
The Galleria/Cumberland/Battery area has evolved in recent years from a commercial and office area to a bourgeoning mixed-use residential neighborhood of its own. This project joins the recently built Overton Rise Apartments just across the street and hundreds of newish townhomes and multifamily units to the northeast.
Simpson Housing, BCDC and Novare Group are the investors on the project, while Wells Fargo is providing debt financing. Niles Bolton Associates is the architect, and Kimley-Horn is the civil engineer. The general contractors are a joint venture between Batson-Cook Construction of Atlanta and Flournoy Construction Group of Columbus, Georgia