RangeWater Real Estate is working on a third project along the Beltline.
The Atlanta-based real estate company announced earlier this month that it broke ground on a 325-unit apartment project. The complex is in the historic Capitol View neighborhood.
The 8.5-acre site was once the Exide Technologies car battery plant. At 1246 Allene Ave. SW, the complex will feature two entrances to the Westside Trail. The first units are set for completion by late 2022.
Credit: RangeWater Real Estate
Credit: RangeWater Real Estate
“Developing along the Atlanta BeltLine continues to be a focus of ours as it naturally connects our residents with their respective neighborhoods,” Steven Shores, President & CEO of RangeWater, said in a statement. “Our team’s repeat investment in the Southside Trail truly aligns with our purpose of creating fulfilling experiences, encouraging a connectedness in those who choose to live with us. We look forward to delivering a multifamily community here in Capitol View that will add value for years to come.”
The Vivans will have 3-, 4- and 5-story buildings with studio. It will also have one- and two-bedroom apartments. Rents will begin at $1,200 monthly. In line with the City of Atlanta’s specifications for new Beltline projects, 15% of units will be priced at attainable rents. A dog park, club room, pool and fitness center are among the planned amenities.
“We are excited to invest with such a high-quality developer in RangeWater and grow our footprint in Atlanta where we are headquartered,” Brendan Whalen, Managing Director of ParkProperty Capital, said. “This will be our second investment in Atlanta and first along the Beltline trail where we see a lot of opportunity in this historic but quickly revitalizing neighborhood. “
“This is also the second investment through our discretionary fund platform that invests in similar development opportunities throughout the major markets in the US Sunbelt, so this is an important milestone for ParkProperty Capital on multiple fronts.”
The Vivian is the third RangeWater Real Estate Beltline project. It joins apartment and townhome project Maverick and Skylark apartment complex. Both are along the Southside Trail.
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