The next piece of Memorial Drive’s hyper-speed evolution from gritty industrial corridor to development epicenter hopes to move forward in coming days.
Alliance Residential Company, a multifamily developer active across metro Atlanta, has closed on the purchase of 2.53 acres at 230 Martin Luther King Jr. SE Drive to build an apartment community called Broadstone Metal Works.
The Dynamik Design project would see 278 units, ranging from studios to three-bedroom rentals, erected just west of Oakland Cemetery, a block north of Memorial. At the southeast corner of the site—and not included in development plants—is Nick’s Food to Go, a family-owned, Greek takeout institution that’s operated in a small corner building since 1994.
An Alliance rep tells Urbanize Atlanta that plans call for breaking ground on Broadstone Metal Works this month and delivering the first apartments in summer 2023. Alliance plans to literally build around the longstanding restaurant next door.
Updated renderings aren’t yet available, but plans call for five stories with rentals that average 790 square feet. A rooftop pool, coworking space, “first-class” fitness center, and clubroom for entertainment are also planned. Some apartments are expected to feature uninterrupted downtown views.
According to the most recent property records, the parcel in question last sold in 2016 for $4.1 million. Atlanta multifamily developer Perennial Properties was most recently listed as developer in site plans.
The site also includes old warehouse buildings formerly occupied by Conklin Metal Industries. Georgia State University’s football and soccer practice facilities are next door.
Noah Randall, Alliance’s managing director, called the location “the perfect recipe for urban luxury living” with its short downtown commute and access to parks, dining, and entertainment.
• Images: MARTA's mixed-use build overlooking Oakland Cemetery is coming together (Urbanize Atlanta)