About 350 new residential units are moving forward in the Perimeter Summit master-planned development in Brookhaven.
High Street Residential has closed on 4 acres at 5005 Perimeter Blvd, Atlanta Business Chronicle reports. The site is at the corner of Perimeter Center Parkway and Lake Hearn Drive, off of Interstate-285 and near Perimeter Mall.
The firm, a subsidiary of Dallas-based Trammell Crow Company, sees the area as a prime location for a luxury, mid-rise apartment, given the amount of corporate workers in the area, many of them young millennials. The building is slated to be seven stories.
Perimeter Summit is an 83-acre development with several high-rise office buildings and a Hyatt Regency hotel. The apartment building by High Street Residential marks the development’s first set of residences, according to the news outlet.
The firm paid $11.5 million for the four acres in an all-cash transaction.
The residential building is tentatively expected to break ground in November.