Toll Brothers, Inc. through its Toll Brothers Apartment Living rental subsidiary and JD Capital USA earlier this month announced the formation of a new joint venture to develop Motto, a 290-unit apartment community in Decatur. The joint venture has secured a $45.7 million construction loan from Santander Bank, N.A. The debt and equity financing were arranged by Toll Brothers’ in-house finance department. Toll Brothers Apartment Living will manage the development, management, and marketing of Motto.
Motto will be the third community and newest project Toll Brothers Apartment Living has started in the Atlanta-area. “We’re excited to grow in this market as we see a significant amount of employer and population growth,” Charles Elliott, president of Toll Brothers Apartment Living, said in the announcement. “Our community will be a great addition to the Decatur neighborhood, offering an elevated suburban living experience with the conveniences of urban living.”
The community is a 5- and 6-story building with a structured parking garage situated on a 3.2-acre site, at North Arcadia Ave. and East Ponce de Leon Ave. Motto is part of a larger mixed-use site that will be anchored by a Publix grocery store and additional service-oriented businesses. Motto’s floor plan styles will include studio, one-, and two-bedroom apartments. Amenity features will include a pool, clubroom and coffee bar, fitness center, community-wide WiFi, courtyards, pet spa, bicycle storage, and more.
Details surrounding the project’s timeline, and the other mixed-use components including the Publix anchor, are scarce. Reps for Toll Brothers on Thursday did not immediately respond to a request for comment.
