More than three years after initial demo work began, a large-scale Memorial Drive infill project appears to be finding its footing with its first phases of construction.

The Grand Terraza community in DeKalb County’s Belvedere Park neighborhood counts four standing townhomes to date, while twice as many units are now rising on adjacent plots along Julian Street. 

According to listings, the residential project is offering an “executive lifestyle” at “Decatur’s premier new address for luxury townhome living.” 

Four-story facades and elevated entries of the first Grand Terraza townhomes, at the project's southeast corner. Basement levels are shown beneath front doors. Josh Green/Urbanize Atlanta

Where the next section of Grand Terraza townhomes stands today along Julian Street. Josh Green/Urbanize Atlanta

Grand Terraza’s four-story townhomes currently on the market are asking $775,000. 

That buys four bedrooms and four and ½ bathrooms across 2,470 square feet, atop two-car garages (and rare finished basements). The builder is offering $25,000 toward closing costs, per listings; another consideration is HOA fees listed at $500 annually.

Perks include en-suite bathrooms for each bedroom, quartz countertops, and what’s described as designer lighting and premium appliances. The units count at least two balconies, though not the expansive outdoor hangouts of other ITP townhome products.  

The project, to this point, has been several years in the making. 

Beginning in summer 2022, Decatur-based Valor Tower Real Estate Developments demolished houses, cleared a full block, and installed infrastructure, including new streets at the Grand Terraza site. Following delays, construction began in earnest last year. 

Plans call for 44 townhomes total, spanning a full, sloped block just east of Atlanta city limits and East Lake in the 3200 block of Memorial Drive in Decatur, on the south side of the six-lane thoroughfare.

Grand Terraza’s site plan shows seven separate buildings surrounding an internal park, with several greenspaces dotted throughout. 

Site plans for the 44-unit Grand Terraza at Memorial Drive. Valor Tower Real Estate Developments

Planned townhome frontages along Memorial Drive at Thomas Road, per renderings released in 2022. Valor Tower Real Estate Developments

The addition of denser housing is part of DeKalb County’s broader plan to revitalize Memorial Drive, considered a vital commuting corridor linking Stone Mountain to downtown Atlanta.

Grand Terraza’s proximity to MARTA’s Avondale station (roughly two and ½ miles), downtown Decatur (three miles), Emory University (four miles), and downtown Atlanta (seven miles) is cited as a perk in marketing materials. 

We’ve asked Keller Williams Realty Metro Atlanta sales reps for more information on the project’s construction timeline and for the outlook on price points. This article will be updated with additional details that come. 

In the gallery above, find more context and renderings illustrating what Grand Terraza is planned to eventually be. See interiors of finished homes over here. 

Proximity of forthcoming townhomes to existing ones. Josh Green/Urbanize Atlanta

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