Newly acquired home developer Thrive Residential is looking for the city to rezone four acres of property in the Kirkwood neighborhood for a 111-unit townhome and condo development. A rezoning application for the Clifton Street Southeast site was accepted by the city in November, and an ordinance to rezone the property from MR-4B to MR-4A is scheduled to go before Atlanta’s Zoning Review Board on Thursday.
According to a project summary from project representative Laurel A. David of The Galloway Law Group, the sole purpose of the rezoning request is to allow the developer to stack the development. Current plans are for three- or four-story buildings, David and Kimley-Horn’s Ben Skidmore, another project representative, told the city’s Concept Review Committee last year, while the existing site holds an unoccupied church building.
In November filings, Thrive Residential said it expects prices per unit of between the mid-$200,000s to mid-$500,000s and a project completion in December 2022. Current plans call for 15 one-bedroom units between 650 square feet and 750 square feet, 10 two-bedrooms between 1,200 and 1,400 square feet, and 86 threes or fours between 1,800 and 2,400 square feet.
Thrive Residential was acquired by national developer Toll Brothers almost exactly one year ago. The former specializes in developing communities in the Atlanta and Nashville, Tennessee areas.