Multifamily Project The Reid Announced Adjacent BeltLine, Home Grown

Toro Development Company is behind the planned 186-unit multifamily community on Memorial Drive in Reynoldstown.
Multifamily Project The Reid Announced Adjacent BeltLine, Home Grown
Rendering: Official

Toro Development Company (TDC) has closed on a 1.64-acre parcel to develop The Reid, a 186-unit multifamily community on Memorial Drive in Reynoldstown, the company Wednesday announced. The property neighbors the Atlanta BeltLine’s Eastside Trail and Home Grown, a diner known for its Southern fare and retro style.

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Fifteen percent of The Reid’s units will be affordable at 80 percent Area Median Income (AMI). The Reid marks the TDC team’s fourth multifamily project along the BeltLine, following Edge OTB, Anthem on Ashley and BOHO4W (now Camden Fourth Ward). Construction will begin Q1 2023 with first units delivering in Q3 2024. 

The Reid will be developed on land formerly owned by the Reid family, which served as the location of their business, Reid’s Body Shop. After more than 60 years of operation, the family brought the property to market late last year, paving the way for multifamily residential development as previously zoned by the City of Atlanta.

The TDC team is quick to point out that Home Grown is not part of the land purchase, and they hope the diner will remain a fixture in Reynoldstown for a long time. “Home Grown is an Atlanta icon,” Richard Munger, partner at TDC, said in a press release. “We are big fans, and we know our residents will be too. With Home Grown and the BeltLine as our neighbors, this site is incredibly special, and we are taking great care in creating a place that helps address the significant demand for housing in Atlanta. We look forward to becoming an active member of the neighborhood and will be submitting the SAP in the coming days.”

TDC is honoring the Reid family’s contributions to the neighborhood through the name of the new development and is incorporating original memorabilia from the shop as an important part of the project’s design. These efforts will pay tribute to the family’s decades of positive impact on the neighborhood and preserve its legacy for generations to come. 

“We were honored to learn the project would be called ‘The Reid,’” Robert Reid of Reid’s Body Shop said. “Our family has been an active part of the community for a long time, and we are glad the new owners care about the history of the property. We are excited to see this become a great new place for people to live.”  

Located at 952 Memorial Drive SE, The Reid will feature a mix of studios, one- and two-bedroom apartments, as well as a rooftop pool. The ground-floor units will be designed to engage the street-level and support pedestrian activity. In addition to the BeltLine and Home Grown, The Reid is a short walk to a variety of retail options, including Atlanta Dairies and Madison Yards.

The Reid marks the first multifamily development in TDC’s portfolio. Founded by veteran real estate developer Mark Toro in 2021, TDC is led by a team including Richard Munger, John Kelley, Vicky Boyce, and Carla Cox. While working together at North American Properties Atlanta, the team led the turnaround of Atlantic Station, the ground-up development of Avalon in Alpharetta, and the redevelopment of Colony Square in Midtown, as well as a variety of best-in-class multifamily communities in Atlanta and Nashville. 

Last month, TDC announced the first mixed-use project in its portfolio: the redevelopment of a 43-acre site in Johns Creek. The project will support the city’s recently passed Town Center Vision and Plan, a multi-phased development strategy focused on bringing new retail, dining, residential and entertainment experiences to the community.

Caleb J. Spivak

Caleb J. Spivak

Caleb J. Spivak

Caleb J. Spivak

13 Responses

  1. This is completely generic and doesn’t take the neighborhood and future of Memorial into account whatsoever. Zero interaction with the street level apart from a looming lobby, zero retail, zero thought to the pedestrian experience. I encourage TDC to join the Reynoldstown Neighborhood Facebook page and also talk with our Zoning Committee (which to my knowledge they have not yet done), because the neighborhood is NOT happy about these plans at all and you can do better.

      1. Thanks for commenting. Do you plan to take any action speaking with the Reynoldstown neighborhood?

          1. It seems like it would be helpful to consult with the neighborhood sooner rather than later. The neighborhood can’t absorb a bland large structure like this. Our streets can’t handle it, and it’s important to consider the future of the memorial corridor.

            1. Our streets can and will handle this, but I agree that an improved design would be beneficial. The ground-level pedestrian experience needs extra special care, IMO.

  2. @Mark Toro -You may need to update you company’s website. This bland proposal has no ‘Third Place Effect’ and is anything but vibrant and mixed use. It is clear you know what good looks like, so do better with this prime location. “We acquire underperforming assets and transform them into vibrant mixed-use environments that achieve coveted “third place” status – inspired places where people come to feel connected and engaged, something the world needs now more than ever. Third places also produce a quantifiable value premium on rents and valuations. At Toro Development Company, we call this value creation the Third Place Effect.

  3. ugh, this feels run-of-the-mill and super thoughtless. another standard box to store humans in. I am so sad it has no retail. This is about as boring and bland as it comes. Zero thought into how it interacts with the environment and the future of Memorial as more of a pedestrian-friendly zone. This feels like a huge miss and TORO can do better.

  4. How will the ground-floor units be designed to engage the street-level? Does that mean street-facing retail/restaurants? Please clarify.

    If not, this rendering looks exactly like the Gibson Reynoldstown multifamily apartments next door that had zero thought with engaging pedestrians on the street level…other than paving a new sidewalk. I encourage Mark Toro and the TDC to engage with the neighborhood by attending a Reynoldstown Community Meeting (virtually held on zoom) and speaking with the Zoning Committee. Don’t create another giant box apartment building next door to the Gibson. Consider making it a mixed-use apartment community!

  5. We don’t need another apartment box along Memorial Drive in Reynoldstown (I’ve been referring to it as Apartment Valley), what we need is something that engages with the community more and provides housing at the same time. We have plenty of apartment boxes along Memorial already, and this is a chance to build something thoughtful and beneficial on a historic property. Townhomes at the back with a renovated retail space in the old Reid’s building? Something more like Metalworks? I dunno, but I feel like this is just dialed-in—an afterthought. We do need density but please make it interesting. Thank you.

  6. How soon will units be available to apply ? And where do you go to apply , I’m highly intrested ! I think this is an amazing idea !

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