Site work has kicked off for a project that aims to add what developers call walkable, essential, and attainable housing in a growing part of the metro experiencing an influx of outside investment.
Alpharetta-based Parkland Communities recently broke ground on 124 build-to-rent townhomes in Fayetteville called Morgan Park. The 9.3-acre site, located within walking distance of the city’s historic downtown, is situated where E. Lanier Avenue meets Booker Avenue.
Parkland officials say the BTR community—described as “a testament to New-Urbanism planning”—is scheduled to see vertical construction next summer, following about nine months of land development.
The goal with Morgan Park is to create a parklike setting with a central town green and 10 residential buildings surrounding it. Also at the heart of the project will be two pools, a large cabana, a playfield, and mail kiosk.
Rents at Morgan Park will start at $2,400 monthly, to include all maintenance, according to Parkland reps. That entry price is described as “surprisingly lower than homeownership costs” in a project groundbreaking announcement.
Planned layout of the 124-unit community with a town green centerpiece. Courtesy of Parkland Communities
Courtesy of Parkland Residential
Options will range from two-bedroom townhomes with 1,600 square feet up to three-bedroom units with 1,950 square feet, two and ½ bathrooms, and a loft. Each will include a rear-entry, one-car garage and covered outdoor living space.
Morgan Park’s site is about four and ½ miles from the growing Trilith studio complex and mixed-use mini city. Downtown Atlanta is 23 miles north.
Project officials also cite proximity to the U.S. Soccer Federation’s under-construction National Training Center and Headquarters in Fayette County as a plus. That 200-acre project is expected to cost north of $200 million and create some 400 jobs for the area.
Expected look of Morgan Park facades. Courtesy of Parkland Residential
The Parkland Communities' project site in relation to the rest of south OTP Atlanta. Google Maps
Elsewhere in the metro, the BTR model has drawn criticism for claiming available land that could have gone to for-sale housing, where first-time homebuyers especially could start to build equity. Advocates say the housing type allows occupants more flexibility and lower costs in many cases than traditional mortgages.
Other Parkland projects in the works include a sprawling Stonecrest community east of Atlanta, which has been marketed as a renting and buying option for the expected 7,500 future employees at EV carmaker Rivian’s manufacturing plant.
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