A joint venture between real estate development and investment firms Golub & Company, AB Capital, local entrepreneur Thierry Francois, and a MetLife Investment Management-advised client, has announced the acquisition of a 5.8-acre parcel, at 2164 Marietta Blvd, in the Upper West Side.
Plans call for a mixed-use development that will feature two separate and distinct multifamily buildings totaling 576 units at the site. Groundbreaking is expected in the third quarter of 2022 with the delivery of the first phase in the third quarter of 2023. The joint venture has retained architecture and design firm Lord Aeck Sargent.
The sale of the site closed on January 31, 2022, for an undisclosed price. Adam Short, senior vice president, acquisitions, and Alex Newman, vice president, asset management, both of Golub & Company, led the acquisition on behalf of the venture.
Over the course of the last five years, Thierry Francois assembled the site and secured zoning approvals with assistance from AB Capital and Golub & Company. Bruce Armstrong and Joel Sandridge of Golub’s development team will oversee the design and construction.
“The site is strategically located in the rapidly growing west side of Atlanta which includes the Midtown/West Midtown and Upper West Side submarkets, as well as the new Microsoft campus. The area is becoming the epicenter of technology and innovation for the region,” Michael Newman, president and CEO of Golub & Company, said. “As continued growth and capital investment continues to be attracted to the west side of Atlanta, residents of our future development will benefit.”
The proposed design will reflect the industrial roots and character of the neighborhood, and the orientation of the building will take advantage of the skyline views. The development will also include retail space to serve the residences and surrounding neighborhood.