Co-sponsors Novare Group and Batson-Cook Development Co., in a joint venture with ELV Associates, have broken ground on Populus Westside, a 286-unit multifamily community on the Upper Westside of Atlanta, according to a press release. Pinnacle Bank is the senior lender.
On more than 25 acres, at 1315 Northwest Drive, Populus will have eight buildings, a clubhouse, and fitness center, and a pool around an open green space with outdoor grills and a pet park. The community will include studio, one-, two-, and three-bedroom residences.
Through an affordability initiative by Invest Atlanta as part of a property tax incentive program, 15 percent of the residences at Populus will be available at reduced rents to those earning from 60 percent to 80 percent of the Atlanta median income.
The Proctor Creek Trail runs along the western side of the property. It will be the ultimate amenity, providing bike and foot access to the city of Atlanta’s newest park, the 280-acre Westside Park, and the Atlanta Beltline.
“Novare Group is excited to again join our long-time JV partner Batson-Cook Development Company on Populus Westside,” Jim Borders, president and CEO, Novare Group, said. “We have been patient as the demand on the Westside has caught up to a site we have owned for many years.”
Populus Westside is the first project for Stratus Construction, an Atlanta-based multifamily general contractor launched by Novare Group and Ra-Lin & Associates, Inc., a Carrollton and Atlanta, Georgia-based general contractor.
“We are excited to announce Stratus Construction, which will focus on delivering value, efficiency and quality in the construction management process,” Borders said. “Ben Garrett, CEO of Ra-Lin, has been my partner for many years in a number of ventures, and I had been talking with him about forming a JV construction company with Novare Group. He finally agreed, and we have assembled a great team of both new associates and existing Ra-Lin executives to form our new company.”
Populus Westside’s design by Dynamik Design is “mountain-modern,” which “complements the surrounding wooded and rolling topography.” Planners and Engineers Collaborative is the civil engineer.
Novare Group and Batson Cook expect delivery of first units in the fourth quarter of 2022.