FIDES Development, Point One Holdings Launch $35M Multifamily in Norcross
Atlanta-based FIDES Development and PointOne Holdings have broken ground on a 160-unit community at the intersection of Jimmy Carter and Peachtree Industrial boulevards in Norcross, GA.
The $35-million project is the final phase of a 20-acre mixed-use redevelopment weaving together offices, shopping, restaurants and apartments. It is at the gateway to several of metro submarkets and neighborhoods, including Peachtree Corners, Johns Creek, Berkley Lake and Dunwood. The garden-style, gated property is less than five minutes from historic downtown Norcross.
“With apartment demand in Atlanta’s northern suburbs continuing to outpace other submarkets across the MSA, and supply limited, a highly visible location such as this has strong tailwinds that don’t show signs of stopping,” said Heath Hans of FIDES Development.
The JV recently closed the site acquisition and financing for the project and construction is underway. First units expected in the third quarter of 2023.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.