National multifamily real estate developer Wood Partners recently announced the groundbreaking of its latest residential community Alta North, north of Atlanta in Cumming, Georgia.
The new community will be developed as a joint venture with CP Capital US, a U.S. real estate manager specializing in multifamily investments. It is scheduled to open in late 2023 with pre-leasing officially starting in Fall 2023.
Situated at the intersection of GA 400 and Settingdown Circle in Forsyth County, the forthcoming community will be part of a larger planned development, which will bring more than 15,000 square feet of commercial space and a new public road connecting the adjacent residential development to the north to Settingdown Circle.
“Atlanta has been one of the country’s best performing rental markets since the onset of the pandemic, due to the region’s strong economic growth and in-migration,” Kristi Nootens, Vice President of Investments at CP Capital US, said in a press release. “We are excited to continue our long-standing partnership with Wood Partners to deliver a top-tier multifamily project in the booming market of Forsyth County.”
Once complete, Alta North will feature 310 one- and two-bedroom apartment homes across a combination of three-story and 3/4 split buildings. Each of Alta North’s apartment homes will come outfitted with wood-style plank flooring, stainless steel appliances including microwave hoods, under-mounted single bowl sinks, and designer tile backsplashes. Additional features include full-sized in-home washer and dryers and beautiful granite countertops in both the kitchen and bathrooms.
Community amenities include a swimming pool with a tanning ledge, multiple grilling stations and fire pits throughout the property, and an on-site pet park and pet spa. Within the community clubhouse, residents will also have access to a 24/7 fitness center, lounge and social gathering areas, and rentable office spaces for co-working.
“Wood Partners is thrilled to continue its expansion within the Metro Atlanta market with the groundbreaking of our newest community — Alta North,” Bennett Sands, Managing Director, said. “Alta North presents a prime opportunity for Wood Partners to capitalize on the on-going growth across Georgia, and we look forward to continuing to play a positive role in the area’s development by delivering Wood Partners’ signature mix of comfort and luxury to future residents.”
Wood Partners has partnered with CP Capital, formerly known as HQ Capital Real Estate, on 22 development projects in the past, most recently Alta 99th in Phoenix, Arizona.