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ECI Group Acquires 28-Acre MF Development Site in McDonough
Atlanta-based multifamily owner and developer ECI Group, in partnership with Parse Capital, has acquired a 28-acre multifamily development site in the Atlanta suburb of McDonough.
The partnership has begun construction of Columns at South Point, a 260-unit, $45 million apartment community, at the site. The community will be built by ECI Construction with construction financing provided by Wells Fargo Bank. The first units are expected to be delivered by the end of 2021 with project completion in the first quarter of 2022.
“ECI is excited to begin construction on the Columns at South Point and is proud to be creating needed homes and jobs even as the pandemic continues,” said James Baugnon, president at ECI Capital. “Residents of this community will be able to walk to over 700,000 square feet of retail, dining and entertainment amenities at the nearby South Point shopping area while enjoying the finishes and quality of our newly developed apartments.”
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