Atlanta-based FIDES Development, a start-up real estate development and investment firm founded by industry veterans, and South Florida-based PointOne Holdings, an investment and development firm overseeing a diversified portfolio valued at more than $1.3 billion, have broken ground on a 160-unit community at the intersection of Jimmy Carter and Peachtree Industrial boulevards in Norcross, Georgia.
Located at 6885 Jimmy Carter Boulevard, 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 Atlanta’s thriving submarkets and neighborhoods, including Peachtree Corners, Johns Creek, Berkley Lake, Dunwoody and more. The garden-style, gated property is less than five minutes from historic downtown Norcross. More than 140,000 cars pass the site daily, adding to the community’s visibility.
“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. “We’re thrilled to partner with the group of outstanding professionals at PointOne Holdings.”
“We’re delighted FIDES chose Norcross for this fantastic new development,” said City of Norcross Mayor Craig Newton. “Over the past four years, we’ve seen close to $900 million in investments in our local community through new development and expansions launched in Norcross. We look forward to creating this new live-work community strategically placed on the corner of one of our four primary gateways into the city as the latest agent to economic prosperity here in Norcross.”