Real estate developer Alliance Residential Company has closed on 35 acres of land in Gainesville, moving forward on plans for a 300-unit rental community.
Prose Gainesville is planned for 900 Mountaintop Avenue. The property will feature one- and two-bedroom options ranging from 810 to 1,182 square feet.
According to a press release, the finishes will include stainless steel appliances, dining-sized kitchen islands, granite countertops, kitchen and linen pantries, walk-in closets, side-by-side washer and dryers and premium plank flooring throughout.
There will also be a courtyard with grilling stations, a resort-style pool, a club room with a catering kitchen and entertainment lounge, a fitness center, a business center and a Luxer One package concierge.
“We are excited to begin our first project in Gainesville, Georgia,” said Noah Randall, Alliance Residential managing director for Georgia and Tennessee. “This is a unique opportunity to serve the diverse and self-sufficient economic base of higher education institutions, healthcare and technology in Gainesville. We are committed to offering a wide range of residents quality and convenient housing options.”
The community’s first residents will be welcomed in 2025.
Gainesville is northeast of Atlanta. The population of Hall County, where Gainesville is located, is expected to increase more than 20% in the next 10 years. It was identified by the U.S. Census Bureau as one of the fastest growing areas in the U.S., according to a press release about the Prose project.
Prose Gainesville is one of five Alliance Residential Company properties currently under construction or scheduled to break ground in the state.
Established in 2018, Prose is a brand from Alliance Residential Company that focuses on multifamily housing in rapidly expanding job corridors and communities with lighter density.
It’s not clear yet what the cost of rent will be at Prose Gainesville. But according to the brand website, Prose communities target rents up to 20% lower than comparable apartments.
Alliance Residential Company is headquartered in Scottsdale, Arizona. The company was formed in 2000.