The developer behind West Midtown’s Star Metals District has lined up financing and broken ground on its next Atlanta venture.
Real estate firm The Allen Morris Company is moving forward with a $100-million, Class-A apartment complex now called Bryn House in North Druid Hills. The goal is to fill a void for “high-quality rental housing” as the area’s base of high-paying jobs grows, fueled by the expanding medical campuses of Children’s Healthcare of Atlanta and Emory University, officials say.
The site in question is 6 woodsy acres in the 2400 block of North Druid Hills Road, next to a shopping district anchored by Target.
Allen Morris is planning a five-story building with 337 rentals along the popular link between Decatur and Buckhead. Plans also call for 2,000 square feet of retail space at one corner, to include a coffee shop and wine bar connected to a pocket park with games and shaded seating.
Allen Morris officials expect to move fast, completing the project in spring 2023. They recently closed on financing with Truist and PNC banks, while Juneau Construction Company, which built Star Metals Offices and Residences, is onboard to oversee all construction. As with Star Metals, the apartments have been designed by architects at Dwell Design Studio.
Amenities at the complex are expected to include an onsite dog park, elevated pool deck with cabanas and trellised grilling areas, plus a cutting-edge gym, game room, and event space.
Spencer Morris, Allen Morris Company’s chief investment officer, said that with expanding Emory and CHOA campuses “the North Druid Hills corridor is poised to become a world-class medical and bioresearch hub,” per an announcement today. “We believe there’s a distinct need for high-quality rental housing in the neighborhood that isn’t currently being met.”
The project marks the 86th development for Allen Morris Company, which bills itself as one of the Southeast’s largest diversified real estate firms. Company reps say several other developments are in the pipeline around Atlanta.
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