PointOne Holdings and The Residential Group will jointly develop a Class-A multifamily community in Duluth, a high-growth metro Atlanta suburb.
A large clubhouse with community space, including a co-working center and cybercafé, will anchor the 256-unit, garden-style luxury residential community. The property will also feature a resort-style pool with a fire pit and grilling areas, a fully-equipped fitness center and a dog park and pet spa. High-end finishes such as stone countertops, designer cabinetry, stainless steel appliances and hardwood-style flooring will compliment the spacious units.
“We look forward to beginning another successful project in the strongest submarket in Atlanta and are honored to work with a group the caliber of PointOne Holdings,” said Kurt Alexander, Principal at The Residential Group.
“We are proud to joint venture with The Residential Group to develop a project in this exceptional location,” said Leo Peicher, PointOne Holdings Managing Partner. “We have an excellent site in one of the fastest-growing markets in metro Atlanta and a developer-partner with a long established and consistent track record.”
Conveniently located adjacent to the heart of downtown Duluth, the development is within a short distance to more than 250,000 jobs and about 30 minutes from downtown Atlanta, one of the country’s fastest-growing cities.
The historic downtown has several restaurants, coffee shops and parks, all within walking distance. Duluth is a high-growth suburb of metro Atlanta’s Gwinnett County, the second-largest county in the state.
“This project is exceptional due to its walkable access to downtown Duluth which we consider to be the best possible amenity to a multifamily property in a suburban market,” said Ben Colonomos, PointOne Holdings Managing Partner. “We’re excited to add this project to our portfolio of multifamily developments, bringing PointOne Holdings to 2,684 units under construction across nine properties.”
The joint venture recently closed the site acquisition and financing for the project. Construction will soon be underway, with first units delivering in the Summer of 2022.
