The push for density and an upscale lifestyle free from mortgage commitments (and the burden of equity) continues around Decatur’s historic square.
The drive-thru, concrete-clad Bank of America that operated for years at the corner of Clairemont Avenue and Commerce Drive is no more.
Rising in its place recently has been Mill Creek Residential’s latest Modera project, a 194-unit complex with street retail at the base. (The bank has relocated to a new facility next door on the same block.)
The midcentury-style drive-thru Bank of America branch and parking lots on site before. Google Maps
Overview of the 2.3-acre site in the DeKalb County seat, including the portion where Bank of America has moved. Pope & Land Real Estate
The luxury midrise at 163 Clairmont Avenue will include three levels of underground parking and more than 24,000 square feet for shops and restaurants. Mill Creek points to the nearby MARTA hub, Decatur’s bustling downtown, and a 93 Walk Score as marquee draws.
Apartments are expected to range from one to three bedrooms (some with dens), with quartz countertops, patios or balconies, and vinyl-plank flooring.
Where future retail spaces have begun coming out of the ground along Clairemont Avenue. Josh Green/Urbanize Atlanta
Modera reps told Decaturish when the project was announced last summer that rents for apartments with an average of 1,194 square feet overall will typically cost about $3,000 monthly.
Smaller options of 850 square feet are expected to rent for $2,100.
Challenges with site topography prohibited building a larger, four-level parking deck and thus reduced the number of planned units to less than 200, according to developers.
Plans to add 29 rentals meeting affordability standards were nixed when options to build them—beefing up total units to around 230—were found to be cost-prohibitive, Modera development officials have previously said.
The planned look of rooftop lounge amenities. Courtesy of Mill Creek Residential
So what’ll $3,000 rents get in downtown Decatur?
Amenities call for a full-time concierge and “activity director,” along with the pet spa and coworking space that’s becoming par for the course with intown multifamily development. Also in the mix are a sauna, pool, and rooftop deck with a greenhouse, coffee bar, courtyard, and gas-fire tables.
The first move-ins are expected in late 2022.
Modera Decatur's lobby. Courtesy of Mill Creek Residential
Modera Decatur is expected to be Mill Creek’s ninth development to open under that brand in metro Atlanta, following another complex near the BeltLine in Reynoldstown.
It joins projects such as 1133 On the Square, the Arlo apartments, and The Place on Ponce that have brought denser multifamily options around historic Decatur Square the past few years.
