What’s the big idea?
With thousands of apartments popping out of Atlanta’s red clay like multifamily moles, Avila Development (formerly Euramex Management Group) found what they believe is a burgeoning yet underserved market in historic Kirkwood. In 2013 and 2014, the group assembled land—an overgrown field and a smaller, aging apartment complex—a block from the neighborhood’s commercial core and began a lengthy rezoning process to deliver Kirkwood’s only market-rate rental community.
Construction began this year on the Kirkwood, a mid-rise, brick-faced collection of 232 apartments with amenities that’ll include a pool courtyard, clubroom, and greenspace with a walking trail. The first units are expected to open in November 2017.
The complex is being marketed as a more affordable option than new multifamily offerings in neighborhoods such as Midtown. Average rents are projected to be $1,450. Expect 125 one-bedroom units (904 square feet, on average) and 107 two-bedrooms (1,225 square feet).
Actually, no. The Kirkwood is all about residential—a rarity in this development cycle.
Jetha Wagner, Avila Development vice president, says the injection of so many new residents has the potential to bolster the local businesses in Kirkwood.
This article originally appeared in AtlantaMagazine.com January 2017 issue.