Alpharetta’s Avalon project secures financing
The Avalon mixed-use project planned in Alpharetta has obtained $126.5 million in loans to start vertical construction for its first phase, the project’s developers said Friday.
Avalon, a North American Properties development, will include 500,000 square feet of high-end shops and restaurants, for sale and rental residences, hotels and office space. The $600 million project along Old Milton Parkway and Ga. 400 is expected to open its first phase in October 2014.
On Friday, the company also announced it has signed new tenants, including popular in-town pizza restaurant Antico Napoletana, Bantam + Biddy by Chef Shaun Doty, Tommy Bahama and West Elm.
The financing announcement comes on the heels of the Buckhead Atlanta mixed-use development securing $167 million in construction financing.
About the Author
J. Scott Trubey is the senior editor over business, climate and environment coverage at The Atlanta Journal-Constitution. He previously served as a business reporter for the AJC covering banking, real estate and economic development. He joined the AJC in 2010.
