Lalani, Exact Teaming Up on Atlanta Affordable Apartment Project

Lalani Ventures is working with Exact Capital on a mixed-use, mixed-income venture at Underground Atlanta, a project Lalani is developing. Underground Atlanta is a shopping and entertainment district located in the city’s Five Points neighborhood. The project has a price tag of $160 million.

Of the project’s 405 units, 163 will be deemed affordable. The city provided a $40 million incentive to provide affordable units.

The 30-story tower’s affordable units will be available to households at or below 60% of the area median income and will share the same amenities as the others. The project is expected to break ground by the end of next year.

Just last week, Lalani was listed as part of a joint venture that is turning an Atlanta office highrise into apartments, offices and retail space.