Whether its high-end condominiums, multifaceted city-center style projects, or the mixed-use overhaul of a moribund strip mall, the development pipeline in Sandy Springs is showing few signs of going dry. 

Officially added this week to the list of in-progress developments around the north Fulton County city is Caldwell, the first project in Georgia by Beverly Hills-based real estate investment company Kennedy Wilson. 

In late summer, the development team began demolition on a mid-rise office building at the project’s 35 Glenlake Parkway NE site that formerly housed UPS offices. 

Kennedy Wilson is partnering with Japanese general construction firm Shimizu Corporation on the 382-apartment project, with financing sourced from a $90-million Santander Bank construction loan. Officials with all three companies gathered recently alongside City of Sandy Springs reps and other partners for Caldwell’s groundbreaking. 

Updated rendering showing signage and entryway plans for a Caldwell facade along Glenlake Parkway NE in Sandy Springs. Courtesy of Kennedy Wilson

One of three courtyards planned for the Caldwell complex. Courtesy of Kennedy Wilson

Newly released renderings help illustrate how the five-story Caldwell complex will be sited across nearly 7 acres about two miles north of Interstate 285, just south of MARTA’s North Springs station on the western side of Ga. Highway 400. 

According to Kennedy Wilson officials, Caldwell’s nearly 400 apartments will average 937 square feet, each with quartz countertops, oversized closets, stainless steel appliances, and smart-home tech. 

Amenities totaling more than 17,500 square feet call for three different courtyards with hammocks and grilling stations, an outdoor beer and wine garden, a terrace overlooking adjacent woods, plus a large gym and “wellness suite” with cold plunge and infrared sauna, per officials.

The project is scheduled to deliver in summer 2028, according to its website. 

Perks of Caldwell’s location will include access to interstates, MARTA stations, recreation options such as Morgan Falls Overlook Park, and job centers including Pill Hill, Buckhead, and Alpharetta, per developers. 

Looking northeast, the Caldwell project's planned stance along Glenlake Parkway, with Ga. Highway 400 shown behind the building. Courtesy of Kennedy Wilson

The former UPS office building at 35 Glenlake Parkway NE, as seen in January. Google Maps

Project leaders say Caldwell is designed to fill a relative void of new multifamily housing in the area. 

John McCullough, president of Kennedy Wilson’s multifamily development group, said the Caldwell groundbreaking “marks an exciting milestone for [the firm] as we expand our multifamily development platform in Georgia,” in a location with “convenient access to the best of metro Atlanta,” per a statement.

Sandy Springs leadership in 2022 announced that all new multifamily projects would be rejected for the next three years—not an official moratorium, but close—in an attempt to spur a better mix of housing, following similar actions by the City of Roswell around the same time. 

The project team also includes New South Construction (general contractor), Dynamik Design (architect), and PEC+ (civil engineer).

Nearby, on the opposite side of Ga. Highway 400, construction is underway at Solis Sandy Springs, which will add 341 market-rate apartments and some retail to the OTP submarket in two separate buildings. 

Earlier this year, Atlanta-based commercial real estate development firm Insignia also filed plans for a 28-acre project nearby that could eventually see more than 1,100 multifamily residences and townhomes. 

A scene from Kennedy Wilson's recent, official groundbreaking for the Caldwell development. Courtesy of Kennedy Wilson

The Caldwell project’s 35 Glenlake Parkway NE site, in relation to North Springs MARTA station, Interstate 285, Perimeter Mall, and other north OTP landmarks. Google Maps

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