The latest large-scale project aiming to fill a need for more student housing at growing Georgia State University is beginning to take shape where downtown meets Sweet Auburn.
Vertical construction is a few stories out of the ground at the southeast corner of Courtland Street and John Wesley Dobbs Avenue, where seasoned local developers Atlantic Capital Properties and Gateway Ventures are building a 25-story tower catered to GSU students.
The site is kitty-corner from the One12 Courtland student housing tower that helped usher in the trend of upscale off-campus living when it opened several years ago. Less than a block away stands 25-story The Mix student residences.
According to permitting records, the Mack Scogin Merrill Elam Architects-designed building will cost $60.8 million and offer 247 student apartments (742 student beds), with three levels of parking embedded below. No retail component is mentioned in building permit filings.
Up to 15 percent of the apartments will be reserved for residents earning 80 percent of area median income, translating to rents ranging from about $1,100 to $1,900, per Central Atlanta Progress. The building is expected to open in 2023.
Records indicate the .6-acre property sold for $8.5 million in October.
Gateway Ventures’ portfolio includes another 25-story Atlanta building, Square on Fifth at Tech Square, which was among the first in a flurry of Midtown high-rises to provide new living options for Georgia Tech students.
GSU now counts an enrollment of more than 51,000 students across its seven metro campuses, with the bulk of them attending classes downtown.
Another tower aiming to capture the GSU student demographic has broken ground a block from Centennial Olympic Park. That venture by Landmark Properties and AECOM-Canyon Partners, called The Metropolitan, will stand 32 stories.
It's also expected to open in 2023.
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