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Developer Duo Prepping Old Fourth Ward Property for Apartments
Northwood Ravin and Fuqua are teaming up on an apartment project called The Bowery in Old Fourth Ward. The Atlanta Business Chronicle reports that a shuttered Desperate Housewares is being demolished to make way for the project. Work should begin this fall, and delivery is estimated to occur in mid-2028.
The Bowery will consist of 273 apartment units and 12 townhomes, spread across seven stories. Of those units, 15% will be reserved for households earning at or below 80% of the area median income. There will also be 12,000 square feet of retail space.
The project is expected to exceed $122 million. The developers will benefit from $5.7 million in tax savings across 10 years. Northwood paid $14 million for the development site in 2023.
Northwood is also currently developing the 370-unit Halo project in East Decatur, which will feature a rooftop pool and a resident artist program.
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