Real estate developer The Allen Morris Company has broken ground on Bryn House, a mixed-use rental community in North Druid Hills, the firm announced this week. Bryn House is estimated to be completed in the spring of 2023.
The Allen Morris Company recently closed on a $64,000,000 construction loan with Truist and PNC.
Juneau Construction Company, which recently completed Star Metals Residences for The Allen Morris Company, will once again serve as the general contractor and oversee all construction.
The five-story, 337-unit residential building will include 574,479 buildable square feet including a 175,00 square-foot parking deck and 2,000 square feet of ground-floor retail, inclusive of a coffee shop and wine bar connected to a pocket park with shaded outdoor seating and games.
Additional amenities will include an elevated pool deck with private cabanas and trellised grilling areas, a gym, event space, a game room, and an onsite dog park.
The new community will support the housing needs of healthcare workers and university employees from the Children’s Healthcare of Atlanta (CHOA) and Emory University medical campus respectively. Both CHOA and Emory University are currently expanding; an indicator of job expansion in the area and subsequent housing needs, according to the release.
“We are very pleased to partner with Truist and PNC for the financing on this outstanding project,” Spencer Morris, Chief Investment Officer of the Allen Morris Company, said in the release. “With the expansion of the Emory & CHOA medical campuses, the North Druid Hills corridor is poised to become a world-class medical & bioresearch hub. As a result, we believe there’s a distinct need for high-quality rental housing in the neighborhood that isn’t currently being met.”
The Allen Morris Company’s developments provide residents and tenants alike with the opportunity to indulge in modern living spaces in proximity to Atlanta’s vibrant epicenters. The North Druid Hills project will be the company’s 86th development. It currently also has several developments in process within Atlanta including the nationally acclaimed and recently completed Star Metals District in West Midtown.
The multi-faceted Allen Morris Company has several projects throughout Atlanta, Central Florida and South Florida, and is currently looking at new opportunities throughout the Southeast.