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National developer Crescent Communities is breaking ground on its five-story, 340-unit Novel West Midtown project with a projected opening in 2023, it said this week.
The apartment project will rise in the Blandtown neighborhood at 1330 Fairmont Ave. Crescent Communities and financial partner MAA closed on their acquisition of the project site, which is a roughly 10-acre tract on the western side of Fairmont Avenue, in April for an undisclosed price.
“West Midtown is widely recognized as one of Atlanta’s most sought-after neighborhoods, and NOVEL West Midtown is set to bring unrivaled convenience and a new level of living to this premier destination,” Crescent Communities Managing Director Kyle Brock said in a press release announcing a Wednesday morning groundbreaking ceremony.
Designs for the development are being led by architecture firm Dwell Design Studio, landscape architect Dix.Hite + Partners, and interior design firm CID Design Group, while construction and engineering is being led by Juneau Construction Company and Kimley-Horn.
Plans on file with the city of Atlanta call for 68 studios, 185 one-bedrooms, 66 two-bedrooms, and 21 three-bedrooms, with 34 apartments, or 10 percent of the project total, to be reserved for lower income households. A rezoning application from last year shows market-rate rents are expected to range from $1,450 for studios to $2,900 for threes and below-market-rate rents from $837 for studios to $1,243 for threes.
Studios will range in size from about 600 to 630 square feet, ones from 680 to about 800 square feet, twos from 1,080 to about 1,200 square feet, and the threes each just under 1,400 square feet, designs show.
The project site plan involves three main residential buildings wrapped around a seven-level, 416-space parking deck.
The Blandtown project’s “abundance of amenities will set a new standard for luxury in the neighborhood,” according to the groundbreaking announcement. Features will include nature trails, a pool courtyard and spa, an outdoor kitchen with grilling stations and a pizza oven, a fitness center with private yoga and spin studios, a dog park and dog spa, and designated co-working areas, among other amenities.
Following others including Novel Midtown, Novel West Midtown is Crescent Communities’ seventh project in the Atlanta market. The company has accumulated a national development portfolio since 1963 of more than 63 multifamily communities, 21 million square feet of commercial space, and 60 single-family master-planned communities, according to its website.
A real estate investment trust, MAA has an ownership interest in more than 100,000 apartment units.