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.
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