Resia Closes On Construction Financing for A New Multifamily Community In Atlanta

This is Resia’s Third Project in Georgia
RESIA CLOSES ON CONSTRUCTION FINANCING FOR A NEW MULTIFAMILY COMMUNITY IN ATLANTA
Rendering: Official
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Resia (formerly known as AHS Residential) announces it has closed on construction financing for a 476-unit apartment community located in northeast Atlanta. Bank of America provided the $60 million construction financing for this project. The project broke ground in the first quarter of 2022 and is expected to be delivered in the third quarter of 2023.

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“We are very appreciative to the Bank of America team for their partnership on this project. We look forward to expanding our relationship as we continue to grow our presence in Atlanta,” said Carlos E. Gonzalez, chief investment officer for Resia in a statemnet.

This will be Resia’s third project within the Atlanta metropolitan area. Located at 4151 Memorial Drive, the new Resia community will deliver 476 workforce units across five 7-story mid-rise buildings, with a portion of those units, 20%, being AMI restricted.

With one-bedroom, two-bedroom, and three-bedroom floor plans, all apartments will feature modern finishes, stainless steel appliances, and in-unit laundry. Resia includes amenities like assigned parking, business center, and a multipurpose clubhouse complete with a swimming pool and fitness center.

Resia is rapidly scaling up its development activities with the goal of delivering 8,000 new apartments annually by 2025.

Lisa Hay

Lisa is a staff reporter for What Now Media Group. She covers new restaurant, retail, and real estate openings across all of our markets. A true foodie, this Air Force veteran has lived all over the world — from Aviano, Italy to Nairobi, Kenya — but her favorite spot is NOLA for its rich history, architecture, culture, and of course, its good eats.
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