5 things to know about The Kirkwood apartments by AtlantaMagazine.com→

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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.

What’s next
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.

Affordability
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).

Shopping, too?
Actually, no. The Kirkwood is all about residential—a rarity in this development cycle.

Commercial impact
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.

Source link: www.atlantamagazine.com/news-culture-articles/5-things-know-kirkwood-apartments/

Avila Real Estate Sells Two Property Portfolio

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Avila Real Estate is pleased to announce the sale of two apartment communities —  Circa 400 and Ecco 400 Apartments in August 2016.  Located at the intersection of Northridge Road and GA 400, the communities were originally built between 1979 and 1980.  Avila purchased the communities totaling 608 units in 2012, renovated both leasing centers and approximately 55% of the units during its ownership period.  Jones Lang LaSalle served as broker for the transaction.